Credit supply and household long-term well-being: Evidence from banking deregulation

Daniel Sungyeon Kim, Jaeyoon Lee and Bong-Geun Choi

Economics Letters, 2022, vol. 219, issue C

Abstract: This study examines how credit supply affects a household’s long-term subjective well-being, measured by suicide deaths. Using the banking deregulation in the U.S. as a quasi-natural experiment, we find that enhanced credit supply reduces households’ suicide deaths. The effects are more remarkable in the areas with higher income inequality and higher financial literacy. Overall, our results highlight the real effects of credit conditions on households’ long-term subjective well-being, which has important policy implications.

Keywords: Credit supply; Banking deregulation; Subjective well-being (search for similar items in EconPapers)
JEL-codes: D10 D18 E51 G28 I31 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:219:y:2022:i:c:s0165176522003111

DOI: 10.1016/j.econlet.2022.110831

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