The Impact of Learning on Business Cycle Fluctuations in the Consumer Unsecured Credit Market
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DOI: 10.2139/ssrn.2535934
Abstract: Unsecured debt is the marginal source of finance for most consumers. Short run fluctuations in the credit spread on consumer unsecured debt, therefore, likely have important implications for consumer welfare. We document that the credit… read more here.
Keywords: unsecured debt; default; consumer unsecured; credit spread ... See more keywords