| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25557 |
| 来源ID | Working Paper 25557 |
| How Do Americans Repay Their Debt? The Balance-Matching Heuristic | |
| John Gathergood; Neale Mahoney; Neil Stewart; Jörg Weber | |
| 发表日期 | 2019-02-18 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | In Gathergood et al. (2019), we studied credit card repayments using linked data on multiple cards from the United Kingdom. We showed that individuals did not allocate payments to the higher interest rate card, which would minimize the cost of borrowing, but instead made repayments according to a balance-matching heuristic under which the share of repayments on each card is matched to the share of balances on each card. In this paper, we examine whether these results extend to the United States using a large sample of TransUnion credit bureau data. These data do not have interest rates, so we cannot examine the optimality of payments. However, we observe balances and repayments, so we can examine balance-matching behavior. We replicate our analysis and find that Americans also repay their debt in accordance with a balance-matching heuristic. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w25557 |
| 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/583231 |
| 推荐引用方式 GB/T 7714 | John Gathergood,Neale Mahoney,Neil Stewart,et al. How Do Americans Repay Their Debt? The Balance-Matching Heuristic. 2019. |
| 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 | ||
| w25557.pdf（249KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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