Discover and read the best of Twitter Threads about #HouseholdFinance
Most recents (6)
♥️A valentine’s gift ♥️: New short working paper `Buy Now, Pay Later (BNPL)...On Your Credit Card’ with Chris Firth & @johngathergood @ChicagoBooth @WarwickBSchool @UoNEconomics
Paper: arxiv.org/pdf/2201.01758…
Thread ⬇️ 1/9 #saywhatyoufound #householdfinance #BNPL #econtwitter
Paper: arxiv.org/pdf/2201.01758…
Thread ⬇️ 1/9 #saywhatyoufound #householdfinance #BNPL #econtwitter
BNPL is a FinTech credit option to defer payments into 1+ (often <5) 0% interest instalments.
Next time you shop online you’ll likely see BNPL firms (e.g. Afterpay/Clearpay, Affirm, Klarna) as a payment options 👀
🇬🇧 BNPL is larger than payday lending market at its peak! 2/9
Next time you shop online you’ll likely see BNPL firms (e.g. Afterpay/Clearpay, Affirm, Klarna) as a payment options 👀
🇬🇧 BNPL is larger than payday lending market at its peak! 2/9
BNPL is largely unregulated. But UK & US financial regulators (CFPB, FCA) are considering BNPL regulation.
Where's the BNPL research to inform them? Searches on ArXiv found 0 papers, on SSRN 1 (law) paper.🤯
Our paper provides a quantitative starting point for this topic 3/9
Where's the BNPL research to inform them? Searches on ArXiv found 0 papers, on SSRN 1 (law) paper.🤯
Our paper provides a quantitative starting point for this topic 3/9
👋New work with @johngathergood evaluating recent UK local lockdowns using new real-time spending data
Paper: arxiv.org/abs/2010.04129
@EconObservatory blog: coronavirusandtheeconomy.com/question/how-c…
Thread ⬇️ 1/11
#householdfinance #coronavirusindicators #econtwitter
Paper: arxiv.org/abs/2010.04129
@EconObservatory blog: coronavirusandtheeconomy.com/question/how-c…
Thread ⬇️ 1/11
#householdfinance #coronavirusindicators #econtwitter
We use @fable_data - a new source of European real-time, transaction-level consumption data. We find a 0.91 correlation with comprehensive (aggregated) bank of england credit card data. Its real-time, disaggregated format facilitates studying regional consumption... 2/11
We use this to inform the big policy question: How can authorities control coronavirus without killing the economy?
3/11
3/11
Fantastic, careful @bankofengland analysis in monetary policy + financial stability reports. I know how much hard graft goes into these in normal times. Well done all!👏👏👏
Well worth a read (links at end) - much not UK specific... 1/n
#HouseholdFinance #CoronaVirusIndicators
Well worth a read (links at end) - much not UK specific... 1/n
#HouseholdFinance #CoronaVirusIndicators
Reports acknowledge huge uncertainty in macro forecasts. Main scenario sees massive drop but relatively sharp recovery - let's hope they are right... 2/n
Huge uncertainty among other forecasters too... 3/n
This week's @Equifax @EquifaxInsights weekly 🇺🇸household debt update is now out. 📉🙏
🚨THEY'VE ADDED DATA ON ORIGINATIONS INCLUDING SPLITS BY CREDIT RISK AND WE ARE SEEING IMPORTANT STUFF!🚨
Here's my take.
1/8
#HouseholdFinance #CoronaVirusIndicators
🚨THEY'VE ADDED DATA ON ORIGINATIONS INCLUDING SPLITS BY CREDIT RISK AND WE ARE SEEING IMPORTANT STUFF!🚨
Here's my take.
1/8
#HouseholdFinance #CoronaVirusIndicators
OUTSTANDING DEBT (to April 20) remains unchanged
Tl; dr my summary from last week still seems the story across products on outstanding stock.
2/8
Tl; dr my summary from last week still seems the story across products on outstanding stock.
2/8
OUTSTANDING CREDIT CARD debt + utilization are still falling sharply 3/n
What's the early effects of Covid-19 on US household debt (to Monday 13 April)? Thanks to great work @Equifax @EquifaxInsights we're starting to know. Here's my summary... 1/8
#HouseholdFinance #CoronaVirusIndicators
#HouseholdFinance #CoronaVirusIndicators
The boom in household debt since 2013 is done. Outstanding debt flattened off in aggregate and across mortgages + autos.
This is the stock so a slow-moving variable. Seeing flow of new accounts would be a more leading indicator. 2/8
This is the stock so a slow-moving variable. Seeing flow of new accounts would be a more leading indicator. 2/8
We are starting to see quite a sharp decline in credit card debt (both general purpose + retailer cards).
Given what we've seen in other data this is likely due to lower purchases. 3/8
Given what we've seen in other data this is likely due to lower purchases. 3/8
Hey @pauldadams let's thread this! A summary of four working papers on credit cards in N tweets. Especially for those interested in #HouseholdFinance #BehavioralEconomics #debt #RCTs 1/n
1 in 4 UK credit card payments are at or close to the minimum payment (US similar). Minimum payment information on credit cards appears to act as an anchor making consumers more likely to pay at or close to the minimum. How can we help consumers to pay more? 2/n
PAPER 1 - Increasing credit card payments using choice architecture: The case of anchors and prompts... 3/n
