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Just Released: Who's Borrowing Now? The Young and the Riskless!

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Abstract

According to today’s release of the New York Fed’s 2013:Q4 Household Debt and Credit Report, aggregate consumer debt increased by $241 billion in the fourth quarter, the largest quarter-to-quarter increase since 2007. More importantly, between 2012:Q4 and 2013:Q4, total household debt rose $180 billion, marking the first four-quarter increase in outstanding debt since 2008. As net household borrowing resumes, it is interesting to see who is driving these balance changes, and to compare some of today’s patterns with those of the boom period.

Suggested Citation

  • Andrew F. Haughwout & Donghoon Lee & Wilbert Van der Klaauw & David Yun, 2014. "Just Released: Who's Borrowing Now? The Young and the Riskless!," Liberty Street Economics 20140218b, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:86925
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    More about this item

    Keywords

    debt; credit; student; mortgage; households; borrowers;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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