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Working Paper
Why Is Mommy So Stressed? Estimating the Immediate Impact of the COVID-19 Shock on Parental Attachment to the Labor Market and the Double Bind of Mothers
Heggeness, Misty (2020-06-19)
I examine the impact of the COVID-19 shock on parents’ labor supply during the initial stages of the pandemic. Using difference-in-difference approaches and monthly panel data from the Current Population Survey (CPS), I compare labor market attachment, non-work activity, hours worked, and earnings and wages of those in areas with early school closures and stay-in-place orders with those in areas with delayed or no pandemic closures. While there was no immediate impact on detachment or unemployment, mothers with jobs in early closure states were 53.2 percent more likely than mothers in late ...
Opportunity and Inclusive Growth Institute Working Papers , Paper 33

Discussion Paper
Climate Change and Consumer Finance: A Very Brief Literature Review
Canals-Cerda, Jose J.; Roman, Raluca (2021-10-06)
Extant research shows that climate change can impose significant costs on consumers’ wealth and finances. Both sea-level rise and flooding from hurricane events led to high price declines and thus wealth loss for homes in coastal areas or in disaster-struck areas, with effects lingering for a number of years in some cases. In terms of consumer finance, while the average consumer is not always significantly negatively affected by a disaster, the vulnerable groups (those with low credit scores and who are low income) can be severely affected, experiencing higher rates of delinquencies and ...
Consumer Finance Institute discussion papers , Paper 21-04

Discussion Paper
How Does Buy Now, Pay Later Affect Customers’ Credit?
Doubinko, Valeria Zeballos; Akana, Tom (2023-09-28)
In this paper, we explore the relationship between consumers’ use of buy now, pay later (BNPL) and their credit reports. BNPL is a deferred payment tool that allows consumers to split transactions into four payments over six weeks. Unlike many other financial products, it is offered primarily by fintech companies and advertised to consumers as free from fees and credit checks. These providers typically do not report a consumer’s use of BNPL and subsequent repayment behavior to credit bureaus, which makes studies of BNPL users’ credit more challenging. In this analysis, however, we ...
Community Affairs Discussion Paper , Paper 23-01

Working Paper
“Sort Selling”: Political Polarization and Residential Choice
Orellana, John; McCartney, W. Ben; Zhang, Calvin (2021-03-02)
Partisanship and political polarization are salient features of today’s society. We merge deeds records with voter rolls and show that political polarization is more than just “political cheerleading.” Descriptively, homeowners are more likely to sell their homes and move when their next-door neighbors are affiliated with the opposite political party. We use a novel, new-next door neighbor identification strategy along with rich demographic control variables and time by-geography fixed effects to confirm causality. Consistent with a partisanship mechanism, our results are strongest when ...
Working Papers , Paper 21-14

Working Paper
Health Insurance as an Income Stabilizer
Blascak, Nathan; Roll, Stephen; Grinstein-Weiss, Michal; Gallagher, Emily (2020-01-29)
We evaluate the effect of health insurance on the incidence of negative income shocks using the tax data and survey responses of nearly 14,000 low income households. Us-ing a regression discontinuity (RD) design and variation in the cost of nongroup pri-vate health insurance under the Affordable Care Act, we find that eligibility for sub-sidized Marketplace insurance is associated with a 16% and 9% decline in the rates of unexpected job loss and income loss, respectively. Effects are concentrated among households with past health costs and exist only for “unexpected” forms of earnings ...
Working Papers , Paper 20-05

Report
How Do People Pay Rent?
Zhang, David Hao (2016-06-13)
Using data from the 2014 Boston Fed Bill Payment Experiment and the 2014 Survey of Consumer Payment Choice (SCPC), we investigate how households pay their rent. We find that the dominant methods for paying rent are cash (22 percent), check (42 percent), and money order (16 percent). Electronic methods are still rarely used, at 8 percent for bank account number payment and 7 percent for online banking bill payment, and less than 2 percent for debit and credit cards. Compared with other large bill payments of more than $200, rental payments are much more likely to be made with paper-based ...
Consumer Payments Research Data Reports , Paper 2016-02

Working Paper
The Opioid Epidemic and Consumer Credit Supply: Evidence from Credit Cards
Agarwal, Sumit; Li, Wenli; Roman, Raluca; Sorokina, Nonna (2023-11-28)
Using a unique data set of unsolicited credit card offer mailings by banks to consumers, we investigate how opioid abuse affects consumer credit supply in the U.S. To identify causal effects, we employ instrumental variables, propensity score matching, and contiguous counties techniques and control for varying local economic conditions and demographics. We find that banks contract credit supply to consumers in counties highly exposed to opioid abuse by offering higher interest rates, lower credit card limits, and fewer rewards and reducing credit offers overall. Further analyses using the ...
Working Papers , Paper 23-28

Working Paper
Inferring Inequality with Home Production
Karabarbounis, Loukas; Boerma, Job (2017-12-22)
We revisit the causes, welfare consequences, and policy implications of the dispersion in households' labor market outcomes using a model with uninsurable risk, incomplete asset markets, and a home production technology. Accounting for home production amplifies welfare-based differences across households meaning that inequality is larger than we thought. Using the optimality condition that households allocate more consumption to their more productive sector, we infer that the dispersion in home productivity across households is roughly three times as large as the dispersion in their wages. ...
Working Papers , Paper 746

Working Paper
Why Does Consumption Fluctuate in Old Age and How Should the Government Insure it?
De Nardi, Mariacristina; Borella, Margherita; Blundell, Richard; Commault, Jeanne (2020-10-23)
In old age, consumption can fluctuate because of shocks to available resources and because health shocks affect utility from consumption. We find that even temporary drops in income and health are associated with drops in consumption and most of the effect of temporary drops in health on consumption stems from the reduction in the marginal utility from consumption that they generate. More precisely, after a health shock, richer households adjust their consumption of luxury goods because their utility of consuming them changes. Poorer households, instead, adjust both their necessary and luxury ...
Opportunity and Inclusive Growth Institute Working Papers , Paper 40

Working Paper
Household formation over time: evidence from two cohorts of young adults
Cooper, Daniel H.; Luengo-Prado, Maria Jose (2016-11-15)
This paper analyzes household formation in the United States using data from two cohorts of the national Longitudinal Survey of Youth (NLSY)?the 1979 cohort and the 1997 cohort. The analysis focuses on how various demographic and economic factors impact household formation both within cohorts and over time across cohorts. The results show that there are substantial differences over time in the share of young adults living with their parents. Differences in housing costs and business-cycle conditions can explain up to 70 percent of the difference in household-formation rates across cohorts. ...
Working Papers , Paper 16-17

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