| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24699 |
| 来源ID | Working Paper 24699 |
| The Capitalization of Consumer Financing into Durable Goods Prices | |
| Bronson Argyle; Taylor D. Nadauld; Christopher Palmer; Ryan D. Pratt | |
| 发表日期 | 2018-06-11 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Using loan-level data on millions of used-car transactions across hundreds of lenders, we study the consumer response to exogenous variation in credit terms. Borrowers offered shorter maturity decrease expenditures enough to offset 60-90% of the monthly payment increase. Most of this is driven by shifting toward lower quality cars, but affected borrowers are able to offset 20-30% of a monthly payment shock by negotiating lower prices for equivalent cars. Our results suggest that durable goods prices adjust to reflect credit terms even at the individual level, with one year of additional loan maturity increasing a given car’s price by 2.8%. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Financial Institutions ; Public Economics ; Taxation ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies |
| URL | https://www.nber.org/papers/w24699 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582371 |
| 推荐引用方式 GB/T 7714 | Bronson Argyle,Taylor D. Nadauld,Christopher Palmer,et al. The Capitalization of Consumer Financing into Durable Goods Prices. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24699.pdf（643KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
