ArticleJournal of banking & finance2023
The COVID-19 shock and consumer credit: Evidence from credit card data.
Article in Journal of banking & finance, 2023. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 10 papers.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
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Who cites it
10 citing papers in PubMed.
- Inequality in high-cost borrowing and unemployment insurance generosity in US states during the COVID-19 pandemic.Nature human behaviour · 2024Article
- Associations between a Novel Measure of Census Tract-Level Credit Insecurity and Frequent Mental Distress in US Urban Areas, 2020.Journal of urban health : bulletin of the New York Academy of Medicine · 2023Article
- Economic activities' response to the COVID-19 pandemic in developing countries.Scientific African · 2023Article
- COVID-19, bank deposits, and lending.Journal of empirical finance · 2022Article
- COVID-19 as a stress test: Assessing the bank regulatory framework.Journal of financial stability · 2022Article
- Debt-relief programs and money left on the table: Evidence from Canada's response to COVID-19.The Canadian journal of economics. Revue canadienne d'economique · 2022Article
- Living with Reduced Income: An Analysis of Household Financial Vulnerability Under COVID-19.Social indicators research · 2022Article
- Banking research in the time of COVID-19.Journal of financial stability · 2021Article
- COVID-19 and lending responses of European banks.Journal of banking & finance · 2021Article
- Non-Intrusive Assessment of COVID-19 Lockdown Follow-Up and Impact Using Credit Card Information: Case Study in Chile.International journal of environmental research and public health · 2021Article
Corrections and comments
PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.
Authors and funding
3 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
We study the dynamic effect of the COVID-19 shock on credit card use in 2020. Local case incidence had a strong negative effect on credit card spending in the early months of the pandemic, which diminished over time. This time-varying pattern was driven by the fear of the virus, rather than government support programs, consistent with the "pandemic fatigue" of consumers. Local pandemic severity also had a strong effect on credit card repayments. These spending and repayment effects offset each other, resulting in no effect on credit card borrowing, consistent with credit-smoothing behavior. The local stringency of nonpharmaceutical interventions also had a negative effect on spending and repayments, albeit smaller in magnitude. We conclude that the pandemic itself was a more important driver of changes in credit card use than the public health policy response.
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.