Just Released: Shifts in Credit Market Participation over Two Decades

Andrew Haughwout, Donghoon Lee, Joelle Scally and Wilbert van der Klaauw

No 20190514, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The New York Fed's Center for Microeconomic Data today released the Quarterly Report on Household Debt and Credit for the first quarter of 2019. Total household debt grew by $124 billion over the quarter, boosted by increases in mortgage, auto, and student loan balances. Over the past twenty years, the prevalence of each type of credit has waxed and waned, shifts linked to the housing boom, the Great Recession, and the subsequent economic recovery. In this blog post, we draw on the New York Fed's Consumer Credit Panel a nationally representative sample of Equifax credit report data and the basis of our Quarterly Report to explore those longer-term trends in credit market participation.

Keywords: consumer credit panel; household credit; CCP (search for similar items in EconPapers)
JEL-codes: D1 (search for similar items in EconPapers)
Date: 2019-05-14
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