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One Nation Under Debt

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  • Christian Weller
  • Derek Douglas

Abstract

Four out of five Americans believe consumer debt is a problem. But some observers argue that the debt burden largely reflects the rise in housing prices. Christian Weller and Derek Douglas take a closer look at trends in borrowing by individuals. They argue that borrowing has been driven by higher costs, not investment in housing. People are worried for a good reason.

Suggested Citation

  • Christian Weller & Derek Douglas, 2007. "One Nation Under Debt," Challenge, Taylor & Francis Journals, vol. 50(1), pages 54-75.
    • Handle: RePEc:mes:challe:v:50:y:2007:i:1:p:54-75
    DOI: 10.2753/0577-5132500106
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    References listed on IDEAS

    as
    1. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
    2. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
    3. Hanming Fang & Dan Silverman, 2009. "Time-Inconsistency And Welfare Program Participation: Evidence From The Nlsy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1043-1077, November.
    4. David Laibson & Andrea Repetto & Jeremy Tobacman, 2003. "Wealth Accumulation, Credit Card Borrowing, and Consuption-Income Comovement," Documentos de Trabajo 166, Centro de Economía Aplicada, Universidad de Chile.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Christian Weller, 2009. "Credit Access, the Costs of Credit and Credit Market Discrimination," The Review of Black Political Economy, Springer;National Economic Association, vol. 36(1), pages 7-28, March.
    2. Christian Weller, 2013. "Protecting Retirement Wealth," Challenge, Taylor & Francis Journals, vol. 56(4), pages 51-88.
    3. Christian Weller, 2010. "Have Differences in Credit Access Diminished in an Era of Financial Market Deregulation?," Review of Social Economy, Taylor & Francis Journals, vol. 68(1), pages 1-34.

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