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Changing Credit Profile of Consumers: Aging Versus the Business Cycle

Taeyoung Doh

Macro Bulletin, 2017, 1-4

Abstract: The average consumer credit score reached a record high recently. While some commentators attributed this development to the cyclical rebound from the Great Recession, I find that the changing age distribution of credit applicants also played a significant role. Changes in demographics alone can explain 43 percent of the increase in the average score from 1999:Q1 to 2017:Q2.

Keywords: Recession; Consumers; Credit scores; Business cycles (search for similar items in EconPapers)
Date: 2017
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