Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Greater Access to Consumer Credit

Greater Access to Consumer Credit

Chang, Beryl

Paperback

Business General

ISBN10: 3639088603
ISBN13: 9783639088601
Publisher: Blues Kids Of Amer
Published: Oct 13 2008
Pages: 100
Weight: 0.32
Height: 0.21 Width: 6.00 Depth: 9.00
Language: English
The availability of consumer credit has expanded greatly during the past twenty years in OECD countries. While higher income groups long had access to credit, the proliferation of credit cards has gradually increased access to credit for a wide range of household income groups and in virtually all regions of the United States. This paper searches for empirical and econometric evidence on the impact of greater access to consumer credit on savings, investments, and consumptions across five income groups. While findings in this paper show that easier access to credit could have smoothed the consumption of the low income quintile group and facilitated the welfare of the upper- middle to high-income groups in terms of consumption and investments, excessive expansion in revolving credit decreases the savings rate of almost all income groups, is expected to reduce long-term and sustainable growth, and subsequently lowers the overall living standards of most populations in the U.S.

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