Abstract

http://ssrn.com/abstract=1723397
 
 

Citations (1)



 


 



A Brief Postwar History of US Consumer Finance


Andrea Ryan


affiliation not provided to SSRN

Gunnar Trumbull


affiliation not provided to SSRN

Peter Tufano


University of Oxford - Said Business School; National Bureau of Economic Research (NBER)

December 10, 2010

Harvard Business School BGIE Unit Working Paper No. 11-058
Harvard Business School Finance Working Paper No. 11-058

Abstract:     
This article describes the consumer finance sector in the US since World War II. We first define the sector in terms of the functions delivered by firms (payments, savings/investing, borrowing, managing risk, and providing advice.) We provide time series evidence on major trends in consumption, savings, and borrowing. Examining consumer decisions, changes in regulation, and business practices, we identify four major themes that characterize the sector: (a) innovation that increased the choices available to consumer; (b) enhanced access in the form of broadening participation of consumers in financial activities, (c) do-it-yourself consumer finance, which allowed and forced consumers to take greater responsibility for their own financial lives, and (d) the resultant increase in household risk taking.

Number of Pages in PDF File: 53

working papers series


Download This Paper

Date posted: December 12, 2010  

Suggested Citation

Ryan, Andrea and Trumbull, Gunnar and Tufano, Peter, A Brief Postwar History of US Consumer Finance (December 10, 2010). Harvard Business School BGIE Unit Working Paper No. 11-058; Harvard Business School Finance Working Paper No. 11-058. Available at SSRN: http://ssrn.com/abstract=1723397 or http://dx.doi.org/10.2139/ssrn.1723397

Contact Information

Andrea Ryan
affiliation not provided to SSRN ( email )
Gunnar Trumbull
affiliation not provided to SSRN ( email )
Peter Tufano (Contact Author)
University of Oxford - Said Business School ( email )
Park End Street
Oxford, OX1 1HP
Great Britain
+44 (0) 1865 288551 (Phone)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Feedback to SSRN


Paper statistics
Abstract Views: 2,040
Downloads: 313
Download Rank: 53,529
Citations:  1

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.406 seconds