Credit card minimum payment restrictions / by Jason Allen, Michael Boutros and Benedict Guttman-Kenney.: FB3-5/2024-26E-PDF
"We study a government policy that restricts repayment choices with the aim of reducing credit card debt. The policy requires the minimum payment on credit card balances in Quebec to be at least 2% of the statement balance for cards opened before August 2019 and at least 5% for cards opened after August 2019. The rest of Canada is unaffected. We estimate this policy's effects by applying a difference-in-differences methodology to comprehensive, Canadian consumer credit-reporting data. The policy causes a persistent increase in minimum payments. The policy has trade-offs: reducing revolving debt comes at a cost of reducing credit access, and potentially increasing delinquency"--Abstract, page ii.
Permanent link to this Catalogue record:
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| Title | Credit card minimum payment restrictions / by Jason Allen, Michael Boutros and Benedict Guttman-Kenney. |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Format | Digital text |
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| Description | 1 online resource (ii, 56 pages) : colour illustrations. |
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