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Recent Developments in the Credit Card Market and the Financial Obligations Ratio

In: Household Credit Usage

Author

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  • Kathleen W. Johnson

Abstract

Over the past 17 years, U.S. households in the aggregate have devoted an increasing share of their after-tax income to the payment of financial obligations. Part of the increase is attributable to a rise in the level of credit card debt, which has raised the share of households’ aggregate after-tax income that is devoted to credit card payments. Much of the rising share of credit card debt in overall financial obligations may stem from several notable changes in the credit card market over this period.

Suggested Citation

  • Kathleen W. Johnson, 2007. "Recent Developments in the Credit Card Market and the Financial Obligations Ratio," Palgrave Macmillan Books, in: Sumit Agarwal & Brent W. Ambrose (ed.), Household Credit Usage, chapter 0, pages 13-35, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-60891-7_2
    DOI: 10.1057/9780230608917_2
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    Cited by:

    1. Sumit Agarwal & Dan Aaronson & Eric French, 2008. "The Consumption Response to Minimum Wage Hikes," 2008 Meeting Papers 379, Society for Economic Dynamics.
    2. Daniel Aaronson & Sumit Agarwal & Eric French, 2012. "The Spending and Debt Response to Minimum Wage Hikes," American Economic Review, American Economic Association, vol. 102(7), pages 3111-3139, December.
    3. Daniel Aaronson & Sumit Agarwal & Eric French, 2008. "The consumption response to minimum wage increases," Working Paper Series WP-07-23, Federal Reserve Bank of Chicago.

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