1. The Great Recession and Credit Trends across Income Groups†.
- Author
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Amromin, Gene and McGranahan, Leslie
- Subjects
GREAT Recession, 2008-2013 ,CONSUMER credit ,POOR people ,MIDDLE class ,RICH people ,MORTGAGE loans ,AUTOMOBILE loans ,STUDENT loans ,TWENTY-first century ,CONSUMERS ,ECONOMIC history - Abstract
In this paper, we document trends in credit use across income groups in the period surrounding the Great Recession. We investigate trends in access to different credit markets, including mortgages, home equity, automobiles, and student loans. We disentangle growth rates of new market entrants from the aggregates and analyze overall as well as within-county growth rate differentials across income strata. Our findings may provide insight into the financial well-being of different income groups in the context of the Great Recession. [ABSTRACT FROM AUTHOR]
- Published
- 2015
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