| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12506 |
| DP12506 Consumer Demand for Credit Card Services | |
| Özlem Bedre-Defolie | |
| 发表日期 | 2017-12-14 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We estimate how demand for credit card transacting, borrowing, and late payment responds to the interest rate and late payment fee. We find that lower rates increase borrowing and lower fees increase late payments. Prime cardholders demand for all services is decreasing in any price. In contrast, subprime cardholders borrow less when fees drop, a response consistent with models of limited attention. We calculate that a 2 percentage point rise in the Federal Funds rate decreases borrowing by 16 percent, or $130 billion, that this effect is greater in higher income communities, and that it exhibits geographic agglomeration. |
| 主题 | Financial Economics ; Industrial Organization |
| URL | https://cepr.org/publications/dp12506 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541317 |
| 推荐引用方式 GB/T 7714 | Özlem Bedre-Defolie. DP12506 Consumer Demand for Credit Card Services. 2017. |
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