IDEAS home Printed from https://ideas.repec.org/a/fip/fedkeb/89456.html
   My bibliography  Save this article

Pandemic Relief Has Aided Low-Income Individuals: Evidence from Alternative Financial Services

Author

Listed:
  • Ying Lei Toh
  • Thao Tran

Abstract

Although low-income individuals are more likely to have lost their jobs due to the COVID-19 pandemic, pandemic relief efforts may have helped prevent them from experiencing increased financial distress. Consumer interest in payday loans, title loans, and pawn loans have all declined since the onset of the pandemic, suggesting low-income individuals have been able to access credit and meet basic financial needs without the use of these alternative financial services.

Suggested Citation

  • Ying Lei Toh & Thao Tran, 2020. "Pandemic Relief Has Aided Low-Income Individuals: Evidence from Alternative Financial Services," Economic Bulletin, Federal Reserve Bank of Kansas City, pages 1-4, December.
    • Handle: RePEc:fip:fedkeb:89456
    as

    Download full text from publisher

    File URL: https://www.kansascityfed.org/documents/7587/eb20tohtran1230.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Household support > CARES Act

    More about this item

    Keywords

    Alternative Financial Services (AFS); Payday; Pawnshops; Title Lenders; Pandemic; CARES Act; COVID-19;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedkeb:89456. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Zach Kastens (email available below). General contact details of provider: https://edirc.repec.org/data/frbkcus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.