The Effects of Mortgage Credit Availability: Evidence from Minimum Credit Score Lending Rules
成果类型：
Article
署名作者：
Laufer, Steven; Paciorek, Andrew
署名单位：
Federal Reserve System - USA; Federal Reserve System Board of Governors
刊物名称：
AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
ISSN/ISSBN：
1945-7731
DOI：
10.1257/pol.20180229
发表日期：
2022
页码：
240-276
关键词：
摘要：
This paper uses changes in mortgage lenders' minimum credit score thresholds to credibly identify the effects of access to household credit. Falling under these thresholds has very large negative effects on borrowing for up to two years, and these effects fail to reverse within four years. The effects are particularly concentrated among individuals who have relatively high credit demand and face relatively large contractions in credit supply. In addition, access to new mortgage credit reduces delinquency on nonmortgage debt and appears to spill over to demand for auto loans.
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