Consumer debt and unemployment

Sherrill Shaffer; Bianca Zuniga

doi:10.1080/13504851.2016.1148250

Consumer debt and unemployment

Sherrill Shaffer^*, Bianca Zuniga

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

We present evidence that US consumer debt has varied inversely with unemployment rates since 1990, potentially reflecting responses by households and/or lenders to adverse labour market conditions, and helping explain why consumer debt recently fell despite low interest rates. For several measures of debt, unemployment exhibits greater explanatory power and economic significance than interest rates.

Original language	English
Pages (from-to)	1250-1252
Number of pages	3
Journal	Applied Economics Letters
Volume	23
Issue number	17
DOIs	https://doi.org/10.1080/13504851.2016.1148250
Publication status	Published - 21 Nov 2016

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title = "Consumer debt and unemployment",

abstract = "We present evidence that US consumer debt has varied inversely with unemployment rates since 1990, potentially reflecting responses by households and/or lenders to adverse labour market conditions, and helping explain why consumer debt recently fell despite low interest rates. For several measures of debt, unemployment exhibits greater explanatory power and economic significance than interest rates.",

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Consumer debt and unemployment

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