Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/227925
Authors: 
Cooper, Daniel
Gorbachev, Olga
Luengo-Prado, Maria José
Year of Publication: 
2019
Series/Report no.: 
Working Papers No. 19-10
Abstract: 
There are more young adults today with either no credit history or insufficient credit history to be scored by one of the major credit bureaus than there were before the Great Recession−a reality that is likely an unintended outcome of the CARD Act of 2009. In regressions that include a rich set of controls, this paper shows that measures of young adults missing from credit bureau data act as a drag on state-level consumption growth. This finding seems to be driven by young individuals from more disadvantaged backgrounds having less access to credit since the act went into effect.
Subjects: 
consumption
credit
JEL: 
E21
D12
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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