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One Nation Under Debt

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  • Christian Weller
  • Derek Douglas

Abstract

Four out of five Americans believe consumer debt is a problem. But some observers argue that the debt burden largely reflects the rise in housing prices. Christian Weller and Derek Douglas take a closer look at trends in borrowing by individuals. They argue that borrowing has been driven by higher costs, not investment in housing. People are worried for a good reason.

Suggested Citation

  • Christian Weller & Derek Douglas, 2007. "One Nation Under Debt," Challenge, Taylor & Francis Journals, vol. 50(1), pages 54-75.
    • Handle: RePEc:mes:challe:v:50:y:2007:i:1:p:54-75
    DOI: 10.2753/0577-5132500106
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    References listed on IDEAS

    as
    1. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
    2. Hanming Fang & Dan Silverman, 2009. "Time-Inconsistency And Welfare Program Participation: Evidence From The Nlsy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1043-1077, November.
    3. David Laibson & Andrea Repetto & Jeremy Tobacman, 2003. "Wealth Accumulation, Credit Card Borrowing, and Consuption-Income Comovement," Documentos de Trabajo 166, Centro de Economía Aplicada, Universidad de Chile.
    4. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
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    Cited by:

    1. Christian Weller, 2009. "Credit Access, the Costs of Credit and Credit Market Discrimination," The Review of Black Political Economy, Springer;National Economic Association, vol. 36(1), pages 7-28, March.
    2. Christian Weller, 2010. "Have Differences in Credit Access Diminished in an Era of Financial Market Deregulation?," Review of Social Economy, Taylor & Francis Journals, vol. 68(1), pages 1-34.
    3. Christian Weller, 2013. "Protecting Retirement Wealth," Challenge, Taylor & Francis Journals, vol. 56(4), pages 51-88.

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