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The Broad, Continuing Rise in U.S. Credit Card Debt Delinquency
An analysis examines the continuing rise in U.S. credit card delinquency through the share of people late on their payments and the share of debt that’s past due.
Journal Article
Uneven Consumption Growth in the COVID-19 Economic Recovery
Are richer households driving the boom in post-pandemic consumption? It may be the case in the U.S., as consumption growth is faster in goods and services with higher income elasticity.
Analyzing Japan’s $550 Billion Pledge to Invest in the U.S.
Japan’s pledge to invest $550 billion in the U.S. may end up being costly for the Asian country when the deal’s present value and hypothetical investment returns are considered.
Journal Article
Real-Time Estimates of Differences in Real Expenditure Growth and Inflation across Households
This article presents a framework to monitor differences in real expenditure growth and inflation in real time, focusing on variations across the expenditure distribution. High-frequency tracking of heterogeneity in real expenditure growth and inflation holds particular value for policymakers. The newly constructed time series reveals three key findings. First, households with lower expenditure levels have faced higher inflation since 2000 than those with higher expenditure levels, with significant disparities in the range of 0.57 and 1.23 percentage-point differences between 2005–2008 and ...
The Broad, Continuing Rise in Delinquent U.S. Credit Card Debt Revisited
The share of Americans late on credit card payments and the share of debt that’s past due continue rising widely, but growth in delinquency rates has slowed since early 2024.
Journal Article
Understanding the Recent Evolution of Auto Loans by Income Level
Per-person auto loans in the richest 10% of zip codes stayed constant for 2016-24, while in the poorest 10% of zip codes they have climbed steadily since 2011.
Journal Article
The Role of Credit Scores in the Recent Rise in Credit Card Delinquency
Researchers Sánchez and Mori examine the relationship between rising credit scores during the COVID-19 pandemic and subsequent increases in credit card delinquencies.
Financial Distress: Why It Matters for Households and the Macroeconomy
Financial distress, which varies across the U.S., can affect households’ well-being and the economy. Measures of distress can serve as economic indicators.
Financing R&D Spending: The Role of Corporate Cash Holdings
Firms with higher R&D spending tend to hold more cash. In recent years, as AI investment has increased, R&D intensity has gone up while cash ratios have declined.
Share of Americans in Financial Distress Reaches High Levels
A smaller share of Americans were in financial distress in 2021 than before the pandemic. Depending on the type of debt, the incidence of financial distress has returned to a high level in 2023.