Just Released: A Look at Borrowing, Repayment, and Bankruptcy Rates by Age

Andrew F. Haughwout, Donghoon Lee, Joelle Scally and Wilbert van der Klaauw
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Andrew F. Haughwout: https://www.newyorkfed.org/research/economists/haughwout

No 20181116b, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Household debt balances increased in the third quarter of 2018, a seventeenth consecutive increase. Total debt balances reached $13.51 trillion, a level more than 20 percent above the trough reached in 2013, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. With today’s report we begin publishing a new set of charts that depict debt and repayment outcomes by the age of the borrower. The report and this analysis are based on the New York Fed Consumer Credit Panel (CCP), a 5 percent sample of anonymized Equifax credit reports. Here we’ll highlight three of the new charts.

Keywords: CCP; debt; household debt; demographics (search for similar items in EconPapers)
JEL-codes: D1 (search for similar items in EconPapers)
Date: 2018-11-16
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