Borrowing during Unemployment: Unsecured Debt as a Safety Net

Autor/in	Sullivan, James X.
Titel	Borrowing during Unemployment: Unsecured Debt as a Safety Net
Quelle	In: Journal of Human Resources, 43 (2008) 2, S.383-412 (30 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-166X
Schlagwörter	Unemployment; Family (Sociological Unit); Debt (Financial); Disadvantaged; Family Income; Credit (Finance) + Suchen Sie Ihr Suchwort? Arbeitslosigkeit; Familie; Familieneinkommen; Credit; Kredit
Abstract	This paper examines whether unsecured credit markets help disadvantaged households supplement temporary shortfalls in earnings by investigating how unsecured debt responds to unemployment-induced earnings losses. Results indicate that very low-asset households--those in the bottom decile of total assets--do not borrow in response to these shortfalls. However, other low-asset households do borrow, increasing unsecured debt by more than 11 cents per dollar of earnings lost. In contrast, wealthy households do not increase unsecured debt during unemployment. The evidence suggests that very low-asset households do not have sufficient access to unsecured credit to smooth consumption over transitory unemployment spells. (Contains 5 tables, 1 figure and 30 footnotes.) (Author).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10