Journal Article
Changing Credit Profile of Consumers: Aging Versus the Business Cycle
Abstract: The average consumer credit score reached a record high recently. While some commentators attributed this development to the cyclical rebound from the Great Recession, I find that the changing age distribution of credit applicants also played a significant role. Changes in demographics alone can explain 43 percent of the increase in the average score from 1999:Q1 to 2017:Q2.
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https://www.kansascityfed.org/en/publications/research/mb/articles/2017/changing-credit-profile-consumers
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Provider: Federal Reserve Bank of Kansas City
Part of Series: Macro Bulletin
Publication Date: 2017-10-18
Pages: 1-4