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Who has a bank account and who doesn't: 1977 and 1989

Author

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  • John P. Caskey
  • Andrew Peterson

Abstract

Using data from the 1977 Consumer Credit Survey and from the 1989 Survey of Consumer Finances, we investigate changes in the percentage of households with deposit accounts. We find that, among households earning $84,000 or less in 1991 prices, the percentage of households with deposit accounts fell from 90.5 percent in 1977 to 86.5 percent in 1989. For households earning $12,000 or less, the percentage with deposit accounts fell from 70.3 percent to 59.2 percent. Although changes in bank policies may have contributed to these trends, socioeconomic changes in the population alone can explain the decline.
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Suggested Citation

  • John P. Caskey & Andrew Peterson, 1993. "Who has a bank account and who doesn't: 1977 and 1989," Research Working Paper 93-10, Federal Reserve Bank of Kansas City.
    • Handle: RePEc:fip:fedkrw:93-10
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    Cited by:

    1. Oz Shy, 2021. "Digital Currency, Digital Payments, and the 'Last Mile' to the Unbanked," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(9), pages 1-9, August.
    2. Emilia Bonaccorsi di Patti & Giorgio Gobbi & Paolo Emilio Mistrulli, 2004. "The interaction between face-to-face and electronic delivery: the case of the Italian banking industry," Temi di discussione (Economic working papers) 508, Bank of Italy, Economic Research and International Relations Area.
    3. Christelis, Dimitris & Georgarakos, Dimitris, 2013. "Investing at home and abroad: Different costs, different people?," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 2069-2086.

    More about this item

    Keywords

    Consumer behavior; Bank deposits;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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