Research on the Impact of Internet Consumer Credit on Hunan Residents’ Consumption Structure

We use credit card data from the Federal Reserve Board's FR Y-14M reports to study the impact of the COVID-19 shock on the use and availability of consumer credit across borrower types from March through August 2020. We document an initial sharp decrease in credit card transactions and outstanding balances in March and April. While spending starts to recover by May, especially for risky borrowers, balances remain depressed overall. We find a strong negative impact of local pandemic severity on credit use, which becomes smaller over time, consistent with pandemic fatigue. Restrictive public health interventions also negatively affect credit use, but the pandemic itself is the main driver. We further document a large reduction in credit card originations, especially to risky borrowers. Consistent with a tightening of credit supply and a flight-to-safety response of banks, we find an increase in interest rates of newly issued credit cards to less creditworthy borrowers.

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The Impact of Price Comparison Tools for Consumer Credit on Financial Decision-Making

AEA Randomized Controlled Trials ◽

10.1257/rct.8553 ◽

2021 ◽

Author(s):

Sean Higgins ◽

Francisco Villarroel

Keyword(s):

Decision Making ◽

Consumer Credit ◽

Financial Decision Making ◽

Price Comparison ◽

Financial Decision ◽

The Impact

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Conclusion

The Politics of Consumer Credit in the UK, 1938-1992 ◽

10.1093/oso/9780198732235.003.0010 ◽

2018 ◽

pp. 222-234

Author(s):

Stuart Aveyard ◽

Paul Corthorn ◽

Sean O’Connell

Keyword(s):

Twentieth Century ◽

Consumer Credit ◽

Political Ideologies ◽

European Consumer ◽

Late Twentieth ◽

Post War ◽

The Uk ◽

The Impact ◽

Late Twentieth Century

The long-term perspective taken by The Politics of Consumer Credit in the UK affords fresh evidence on a number of significant historical debates. It indicates that Britain’s departure from pathways followed in other European consumer credit markets was not simply a by-product of neo-liberalism’s influence on late-twentieth-century governments. It has also allowed us to offer important contributions on questions such as the impact of political ideologies over policymaking, the validity of a right–left framework for analysing politics, the extent to which a post-war consensus existed (and was broken after 1979), and the question of how adept British political parties were in exploiting the emergence of a more affluent electorate....

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A Sisyphean Task

The Politics of Consumer Credit in the UK, 1938-1992 ◽

10.1093/oso/9780198732235.003.0004 ◽

2018 ◽

pp. 72-92

Author(s):

Stuart Aveyard ◽

Paul Corthorn ◽

Sean O’Connell

Keyword(s):

Monetary Policy ◽

Consumer Protection ◽

Consumer Credit ◽

Strong Impact ◽

Cooperative Movement ◽

Consumer Durable ◽

Affluent Society ◽

The Impact

Chapter 3 examines debates about controls on consumer credit from late 1957 to 1964. As in Chapter 2, this chapter provides a fresh appraisal of Labour’s response to the affluent society. The party attempted to outflank the Conservatives on the issue of consumer protection. It embarrassed the Conservatives over their sluggish response to the Molony Committee’s recommendations on hire purchase legislation. The chapter also supports previous analyses that have identified the strong impact of new consumerist groups, particularly the Consumers’ Association and the weakening role of the Cooperative Movement. The issue of credit controls became more contentious. The Radcliffe Committee on monetary policy (1958) highlighted the weaknesses of the system. Of particular concern was the impact of controls on consumer durable industries. They were removed in 1958, but reintroduced, in 1960, following a dangerous rise in consumer indebtedness.

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EC-Structure: Establishing Consumption Structure through Mining E-Commerce Data to Discover Consumption Upgrade

Complexity ◽

10.1155/2019/6543590 ◽

2019 ◽

Vol 2019 ◽

pp. 1-8

Author(s):

Lin Guo ◽

Dongliang Zhang

Keyword(s):

Structure Analysis ◽

Personal Characteristics ◽

Consumption Structure ◽

Social Trends ◽

Consumption Decisions ◽

Internet Economy ◽

Structural Differences ◽

Stable Performance ◽

Using Data ◽

The Impact

The traditional methods of analyzing consumption structure have many limitations, and data acquisition is difficult, so it is hard to scientifically verify the accuracy of algorithms. With the development of Internet economy, many scientific researchers focus on mining knowledge of consumer behavior using big data analysis technology. Because consumption decisions are influenced by not only personal characteristics but also social trends and environment, it is one-sided to analyze the impact of one single factor on the phenomenon of consumption. The authors of this paper combine the consumption structure analysis method and data processing technology using data from an e-commerce platform to extract the consumption structure of cities, compare the structural differences between different periods, and then discover consumption upgrading according to swarm intelligence. The experiments prove the efficacy of the algorithm proposed in this paper compared to other similar algorithms using several different datasets, which illustrates the algorithm’s efficacy and stable performance in consumption structure analysis.

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The Impact of Consumer Credit Access on Unemployment

The Review of Economic Studies ◽

10.1093/restud/rdz006 ◽

2019 ◽

Vol 86 (6) ◽

pp. 2605-2642 ◽

Cited By ~ 4

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.

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