Regulating for Legitimacy: Consumer Credit Access in France and America

2010 ◽  
Author(s):  
Gunnar Trumbull
Keyword(s):  
Consumer Credit ◽  
Credit Access

scholarly journals The Impact of Consumer Credit Access on Unemployment

2019 ◽  
Vol 86 (6) ◽  
pp. 2605-2642 ◽  
Author(s):  
Kyle F Herkenhoff
Keyword(s):  
Business Cycles ◽  
Consumer Credit ◽  
Quantitative Result ◽  
Credit Access ◽  
Access To Credit ◽  
Employment Dynamics ◽  
Cyclical Fluctuations ◽  
The Business Cycle ◽  
The Impact ◽  
Revolving Credit

Abstract Unemployed households’ access to unsecured revolving credit more than tripled over the last three decades. This article analyses how both cyclical fluctuations and trend increases in credit access impact the business cycle. The main quantitative result is that credit expansions and contractions have contributed to moderately deeper and more protracted recessions over the last 40 years. As more individuals obtained credit from 1977 to 2010, cyclical credit fluctuations affected a larger share of the population and became more important determinants of employment dynamics. Even though business cycles are more volatile, newborns strictly prefer to live in the economy with growing, but fluctuating, access to credit markets.

scholarly journals The Impact of Consumer Credit Access on Employment, Earnings and Entrepreneurship

2016 ◽  
Author(s):  
Kyle Herkenhoff ◽  
Gordon Phillips ◽  
Ethan Cohen-Cole
Keyword(s):  
Consumer Credit ◽  
Credit Access ◽  
The Impact

Legitimating the Credit Infrastructure

Debtor Nation ◽  
2011 ◽  
Author(s):  
Louis Hyman
Keyword(s):  
Personal Responsibility ◽  
Consumer Credit ◽  
People Of Color ◽  
Equal Access ◽  
Credit Access ◽  
Access To Credit ◽  
Two Generations ◽  
The 1960S ◽  
Economic Future ◽  
High Social Status

This chapter discusses credit access. By the 1960s, credit access was deemed to be unequivocally beneficial. Credit use, far from marking one as immoral or unthrifty as it might have in the 1910s, denoted high social status and personal responsibility. In the 1960s, those without credit agitated for more “fair” or “equal” access. By the end of the decade, as access to credit became a social marker of independence and prosperity, various credit activists for women and people of color demanded access to credit. As such, congress passed laws to guarantee impartial access to credit. At the same time, these laws legitimated practices that would have seemed usurious two generations earlier. By the 1970s, consumer credit—legitimated as fair through federal policy—grew to an unprecedented volume and creditors extended it to all Americans with uncertain consequences for the country's economic future.

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