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Consumer Credit Reporting Data

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Abstract

Since the 2000s, economists across fields have increasingly used consumer credit reporting data for research. We introduce readers to the economics of and the institutional details of these data. Using examples from the literature, we provide practical guidance on how to use these data to construct economic measures of borrowing, consumption, credit access, financial distress, and geographic mobility. We explain what credit scores measure, and why. We highlight how researchers can access credit reporting data via existing datasets or by creating new datasets, including by linking credit reporting data with surveys and external datasets.

Suggested Citation

  • Christa N. Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert Van der Klaauw & Jialan Wang, 2024. "Consumer Credit Reporting Data," Staff Reports 1114, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednsr:98658
    DOI: 10.59576/sr.1114
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    Keywords

    consumer credit reporting data; credit bureaus; measurement; credit scores; asymmetric information; household finance;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G50 - Financial Economics - - Household Finance - - - General
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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