Credit Card Debt Puzzle: Liquid Assets to Pay Bills
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DOI: 10.29338/wp2022-09
Note: Jose Fillat and Joe Peek provided helpful comments, and Ruth Cohen provided excellent research assistance. The views expressed here are those of the authors and not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Any remaining errors are the authors' responsibility. Please address questions regarding content to Claire Greene, Federal Reserve Bank of Atlanta, or Joanna Stavins, Federal Reserve Bank of Boston.
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- Claire Greene & Joanna Stavins, 2022. "Credit Card Debt Puzzle: Liquid Assets to Pay Bills," Working Papers 22-8, Federal Reserve Bank of Boston.
References listed on IDEAS
- Olga Gorbachev & María José Luengo-Prado, 2019. "The Credit Card Debt Puzzle: The Role of Preferences, Credit Access Risk, and Financial Literacy," The Review of Economics and Statistics, MIT Press, vol. 101(2), pages 294-309, May.
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- Irina A. Telyukova & Randall Wright, 2007. "A model of money and credit, with application to the credit card debt puzzle," Working Papers (Old Series) 0711, Federal Reserve Bank of Cleveland.
- Robert M. Adams & Vitaly M. Bord & Bradley Katcher, 2021. "Why Did Credit Card Balances Decline so Much during the COVID-19 Pandemic?," FEDS Notes 2021-12-03-3, Board of Governors of the Federal Reserve System (U.S.).
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- Joanna Stavins, 2018. "Credit card debt and consumer payment choice: what can we learn from credit bureau data?," Working Papers 18-7, Federal Reserve Bank of Boston.
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Cited by:
- Christopher Henry & Matthew Shimoda & Julia Zhu, 2022. "2021 Methods-of-Payment Survey Report," Discussion Papers 2022-23, Bank of Canada.
- Michael Boutros & Andrej Mijakovic, 2024. "The Macroeconomic Implications of Coholding," Staff Working Papers 24-16, Bank of Canada.
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More about this item
Keywords
credit card debt; liquid assets; consumer payments;All these keywords.
JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2022-10-24 (Banking)
- NEP-PAY-2022-10-24 (Payment Systems and Financial Technology)
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