Journal Article
A closer look at the decline in the labor force participation rate
Canon, Maria E.; Debbaut, Peter; Kudlyak, Marianna (2013-10)
The labor force participation rate has fallen from over 67 percent in 2000 to almost 63 percent today. Among the reasons are the downward trends in the percentages of women and young people in the labor force.
The Regional Economist , Issue October

Journal Article
Large U.S. Bank Holding Companies During the 2007-09 Financial Crisis: An Overview of the Data
Ennis, Huberto M.; Debbaut, Peter (2014-04)
Large banking organizations were at the center of the recent financial crisis in the United States. Their role in the economy and how to regulate them has been the subject of active debate. We study the financial performance of U.S. bank holding companies with more than $10 billion in assets during the period between the beginning of 2005 and the end of 2011. The objective is to provide some perspective on the impact of the crisis on these companies and the way they dealt with and emerged from such stressful times.
Economic Quarterly , Issue 2Q , Pages 113-157

Working Paper
Are young borrowers bad borrowers? Evidence from the Credit CARD Act of 2009
Debbaut, Peter; Kudlyak, Marianna; Ghent, Andra C. (2013)
Young borrowers are the least experienced financially and, conventionally, thought to be most prone to financial mistakes. We study the relationship between age and financial problems related to credit cards. Our results challenge the notion that young borrowers are bad borrowers. We show that young borrowers are among the least likely to experience a serious credit card default. We then exploit the 2009 CARD Act to identify which individuals self-select into obtaining a credit card early in life. We find that individuals who choose early credit card use default less and are more likely to ...
Working Paper , Paper 13-09

Briefing
How Risky Are Young Borrowers?
Romero, Jessica Sackett; Ghent, Andra C.; Debbaut, Peter; Kudlyak, Marianna (2013-12)
Young borrowers are conventionally considered the most prone to making financial mistakes. This has spurred efforts to limit their access to credit, particularly via credit cards. Recent research suggests, however, that young borrowers are actually among the least likely to experience a serious credit card default. One reason why people obtain credit cards early in life may be to build a strong credit history.
Richmond Fed Economic Brief , Issue Dec