Meet the New Borrowers

6 Pages Posted: 27 Jun 2007

See all articles by Sandra E. Black

Sandra E. Black

University of Texas at Austin - Center for Law, Business, and Economics; National Bureau of Economic Research (NBER); IZA Institute of Labor Economics; Norwegian School of Economics (NHH) - Department of Economics

Donald P. Morgan

Federal Reserve Bank of New York

Abstract

Credit card lenders have been writing off loans at sharply higher rates since 1995, suggesting that riskier borrowers are acquiring credit cards. What makes the new borrowers riskier - even more than their personal characteristics and attitudes toward debt - is the fact that they carry higher debt burdens and work in occupations where income may be more cyclical.

Keywords: credit cards, borrowers, debt

JEL Classification: G21, E5

Suggested Citation

Black, Sandra E. and Morgan, Donald P., Meet the New Borrowers. Current Issues in Economics and Finance, Vol. 5, No. 3, February 1999. Available at SSRN: https://ssrn.com/abstract=996839

Sandra E. Black

University of Texas at Austin - Center for Law, Business, and Economics ( email )

Austin, TX
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Norwegian School of Economics (NHH) - Department of Economics

Helleveien 30
N-5035 Bergen
Norway

Donald P. Morgan (Contact Author)

Federal Reserve Bank of New York ( email )

33 Liberty Street
Research Department
New York, NY 10045
United States
212-720-6573 (Phone)

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