The growth of consumer credit and the household debt service burden
Abstract: Household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households and ultimately lead them to curtail their spending. In this paper, I summarize some of the relevant facts concerning the growth of consumer credit and the household debt service burden, outline the results of the research that has been conducted in this area, and look at the questions that might be answered with additional research.
File(s): File format is text/html http://www.federalreserve.gov/pubs/feds/2000/200012/200012abs.html
File(s): File format is application/pdf http://www.federalreserve.gov/pubs/feds/2000/200012/200012pap.pdf
Part of Series: Finance and Economics Discussion Series
Publication Date: 2000