Just Released: Shifts in Credit Market Participation over Two Decades

Haughwout, Andrew F.; Lee, Donghoon; Scally, Joelle; Van der Klaauw, Wilbert

Discussion Paper

Just Released: Shifts in Credit Market Participation over Two Decades

Abstract: The New York Fed's Center for Microeconomic Data today released the Quarterly Report on Household Debt and Credit for the first quarter of 2019. Total household debt grew by $124 billion over the quarter, boosted by increases in mortgage, auto, and student loan balances. Over the past twenty years, the prevalence of each type of credit has waxed and waned, shifts linked to the housing boom, the Great Recession, and the subsequent economic recovery. In this blog post, we draw on the New York Fed's Consumer Credit Panel a nationally representative sample of Equifax credit report data and the basis of our Quarterly Report to explore those longer-term trends in credit market participation.

Keywords: consumer credit panel; household credit; CCP;

JEL Classification: D1;