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Last Published February 02, 2015 02:55 PM February 02, 2015 02:57 PM
Primary Outcomes (End Points) The main outcome variable of interest is the response of credit card debt to a change in credit card limits. Credit card limit consists of revolving credit card balances, and balances in installments. Secondarily, we are interested in the consumption response in different sectors and other balance sheet effects, such as savings accounts. The main outcome variable of interest is the response of credit card debt to a change in credit card limits. Credit card limit consists of revolving credit card balances, and balances in installments. Secondarily, I am interested in the consumption response in different sectors and other balance sheet effects, such as savings accounts.
Randomization Unit I group individuals on the basis of credit card utilization, defined as the ratio of end-of-month credit card balances to credit limit. I first estimate a distributed lag-model on the observational data for each utilization decile. The standard errors of the MPC estimates are higher for high utilization individuals, therefore I under-sample individuals that have a low credit card utilization, proportional to the standard errors. Individuals are grouped on the basis of credit card utilization, defined as the ratio of end-of-month credit card balances to credit limit. I first estimate a distributed lag-model on the observational data for each utilization decile. The standard errors of the MPC estimates are higher for high utilization individuals, therefore I under-sample individuals that have a low credit card utilization, proportional to the standard errors.
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