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Measuring U.S. credit card borrowing: an analysis of the G.19's estimate of consumer revolving credit


  • Mark Furletti
  • Christopher Ody


This paper describes the Federal Reserve System’s monthly estimate of revolving consumer credit as published in the G.19 statistical release. It analyzes the source data, sampling methods, and calculations on which this estimate currently relies. In addition, it proposes a framework for analyzing the revolving credit statistic and suggests modifications to how the estimate is calculated and presented. The paper concludes that the revolving credit estimate is highly accurate and proposes that the System consider five modifications that would improve its usefulness to researchers.

Suggested Citation

  • Mark Furletti & Christopher Ody, 2006. "Measuring U.S. credit card borrowing: an analysis of the G.19's estimate of consumer revolving credit," Payment Cards Center Discussion Paper 06-03, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpdp:06-03

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    References listed on IDEAS

    1. Christopher R. Knittel & Victor Stango, 2003. "Price Ceilings as Focal Points for Tacit Collusion: Evidence from Credit Cards," American Economic Review, American Economic Association, vol. 93(5), pages 1703-1729, December.
    2. David B. Gross & Nicholas S. Souleles, 2002. "Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data," The Quarterly Journal of Economics, Oxford University Press, vol. 117(1), pages 149-185.
    3. Calem, Paul S & Mester, Loretta J, 1995. "Consumer Behavior and the Stickiness of Credit-Card Interest Rates," American Economic Review, American Economic Association, vol. 85(5), pages 1327-1336, December.
    4. Sumit Agarwal & Chunlin Liu & Nicholas S. Souleles, 2007. "The Reaction of Consumer Spending and Debt to Tax Rebates-Evidence from Consumer Credit Data," Journal of Political Economy, University of Chicago Press, vol. 115(6), pages 986-1019, December.
    5. Sumit Agarwal & Souphala Chomsisengphet & Neale Mahoney & Johannes Stroebel, 2015. "Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?," NBER Working Papers 21567, National Bureau of Economic Research, Inc.
    6. Calem, Paul S. & Gordy, Michael B. & Mester, Loretta J., 2006. "Switching costs and adverse selection in the market for credit cards: New evidence," Journal of Banking & Finance, Elsevier, vol. 30(6), pages 1653-1685, June.
    7. Sanchez, Juan M., 2014. "Paying down credit card debt: a breakdown by income and age," The Regional Economist, Federal Reserve Bank of St. Louis, April.
    8. Meta Brown & Andrew F. Haughwout & Donghoon Lee & Wilbert Van der Klaauw, 2013. "The financial crisis at the kitchen table: trends in household debt and credit," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 19(April).
    9. Victor Stango, 2000. "Competition And Pricing In The Credit Card Market," The Review of Economics and Statistics, MIT Press, vol. 82(3), pages 499-508, August.
    10. Matthew D. Shapiro & Joel Slemrod, 2003. "Consumer Response to Tax Rebates," American Economic Review, American Economic Association, vol. 93(1), pages 381-396, March.
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    Consumer credit ; Credit cards ; Debt;

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