| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27782 |
| 来源ID | Working Paper 27782 |
| Shale Shocked: Cash Windfalls and Household Debt Repayment | |
| J. Anthony Cookson; Erik P. Gilje; Rawley Z. Heimer | |
| 发表日期 | 2020-09-07 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | How do persistent cash flow shocks affect debt repayment across the distribution of households? Using individual data on natural gas shale royalty payments matched with credit bureau data for 215,639 consumers, we estimate that individuals repay 33 cents of debt per dollar of windfall, and that initially-subprime individuals repay approximately 5 times more debt than initially-prime individuals do. This difference in debt repayment is driven by changes to revolving debt balances. Finally, we show that debt repayment precedes durable goods consumption, particularly for households who were initially financially constrained. These results shed new light on how deleveraging affects household consumption. |
| 主题 | Financial Economics |
| URL | https://www.nber.org/papers/w27782 |
| 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/585453 |
| 推荐引用方式 GB/T 7714 | J. Anthony Cookson,Erik P. Gilje,Rawley Z. Heimer. Shale Shocked: Cash Windfalls and Household Debt Repayment. 2020. |
| 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 | ||
| w27782.pdf（1081KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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