Meet the new borrowers

Sandra Black and Donald Morgan

Current Issues in Economics and Finance, 1999, vol. 5, issue Feb

Abstract: Credit card lenders have been writing off loans at sharply higher rates since 1995, suggesting that riskier borrowers are acquiring credit cards. What makes the new borrowers riskier--even more than their personal characteristics and attitudes toward debt--is the fact that they carry higher debt burdens and work in occupations where income may be more cyclical.

Keywords: Bank loans; Credit cards; Risk (search for similar items in EconPapers)
Date: 1999
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