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An Analysis of the Recent Surge in Consumer Debt in Rural Areas

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  • Lerman, Donald L.

Abstract

Growth in aggregate consumer debt in rural areas during the 1983-86 period outpaced that of the Nation. However, most rural households with high consumer debt burdens were capable of paying off all debts with their assets-- nearly one quarter fully paid off all consumer debts within 3 years. Rural residents were found likely to hold significantly less consumer debt than urban residents with similar economic and demographic characteristics. Household income, net worth, recent vehicle expenditures, household size, and homeowner status also significantly affected the level of consumer debt by rural households.

Suggested Citation

  • Lerman, Donald L., 1990. "An Analysis of the Recent Surge in Consumer Debt in Rural Areas," Staff Reports 278324, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278324
    DOI: 10.22004/ag.econ.278324
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    File URL: https://ageconsearch.umn.edu/record/278324/files/ers-report-459.pdf
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    References listed on IDEAS

    as
    1. McDonald, John F & Moffitt, Robert A, 1980. "The Uses of Tobit Analysis," The Review of Economics and Statistics, MIT Press, vol. 62(2), pages 318-321, May.
    2. Robert B. Avery & Gregory E. Elliehausen & Arthur B. Kennickell, 1987. "Changes in consumer installment debt: evidence from the 1983 and 1986 surveys of consumer finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Oct, pages 761-778.
    3. Donald L. Lerman, 1987. "Perspectives on Household Portfolios, 1977-83," Eastern Economic Journal, Eastern Economic Association, vol. 13(4), pages 399-410, Oct-Dec.
    4. Randall Pozdena, 1987. "Inflation, age, and wealth," Economic Review, Federal Reserve Bank of San Francisco, issue Win, pages 17-30.
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