00000nam 2200000zi 4500 9.902748 CaOODSP 20250218144357 m o d f cr |n||||||||| 210820t20212021oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP n-cn--- FB3-5/2021-13E-PDF Allen, Jason, author. Debt relief programs and money left on the table : evidence from Canada's response to COVID-19 / by Jason Allen, Robert Clark, Shaoteng Li and Nicolas Vincent. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2021. ©2021 1 online resource (ii, 50 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2021-13 "Last updated: March 15, 2021." Includes bibliographical references (pages 42-44). "This paper analyzes the effectiveness of debt-relief programs targeting short-run household liquidity constraints implemented in Canada in response to the COVID-19 pandemic. These programs allowed individuals to push off mortgage and credit card payments and cut in half interest rates on credit card debt. Using credit bureau data, we document that, despite potential savings above $4 billion, enrollment was limited: 24% for mortgages and 7% for credit cards. By exploiting the richness of our data set, we provide evidence that close to 80% of individuals were unaware of the credit card relief program while others faced important fixed non monetary costs preventing uptake"--Abstract, page ii. Debt relief Canada. COVID-19 Pandemic, 2020-2023 Economic aspects Canada. Dettes Allègement Canada. Pandémie de COVID-19, 2020-2023 Aspect économique Canada. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2021-13. (CaOODSP)9.806221 PDF 849 KB https://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-5-2021-13-eng.pdf