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In response to growing interest in household finance, this collection of essays with a foreword by John Y. Campbell, studies household and consumer use of credit instruments. It shows how individual consumers and households utilize various credit alternatives in managing their consumption and savings and suggests areas for future research.

Household Credit Usage: Personal Debt and Mortgages. Foreword by John Y. Campbell

Foreword by John Y. Campbell PART I: INTRODUCTION Household Finance and the Financial Decision-Making Process; S.Agarwal & B.W.Ambrose PART II: HOUSEHOLD CREDIT: DEMAND AND SUPPLY Recent Developments in the Credit Card Market and the Financial Obligations Ratio; K.Johnson Household Credit Counseling; R.Hunt Household Bankruptcy Decision; A.Lehnert & D.Maki PART III: HOUSEHOLD USE OF PERSONAL CREDIT Collateral and Sorting: An Empirical Investigation into Home Equity Lines of Credit; S.Dey & L.Dunn Automobile Loans and Information Asymmetry; S.Agarwal, B.W. Ambrose ,& S.Chomsisengphet Introductory Credit Card Interest Rates and Balance Switching Behavior of Cardholders; T.Ekici, L.Dunn& T.Kim. Do Personal and Business Credit Mix? An Examination of Family Owned Businesses; G.Kim Debit Cards and Consumer Credit and Debt; M.Fusaro Linkages between Consumer Payments and Credit; S.Chakravorti Payday Lending: Industry Structure and Policy Implications; K.Samolyk PART IV: HOUSEHOLD USE OF MORTGAGE DEBT Is Buying Really Better than Renting?; T.Somerville & P.Teller Choosing between Fixed and Adjustable Rate Mortgages; M.Paiella & A.Pozzolo Sub-Prime Borrowers and Interest Rates; S.Chomsisengphet & A.Pennington-Cross Synthesis of Issues Surrounding Borrower Prepayment and Default in Residential Mortgages; M.LaCour-Little PART V: REGULATORS' PROSPECTIVE OF CONSUMER CREDIT Statistical Analysis and Modeling for Fair Lending and Compliance: The OCC's Perspective; M.Pocock, I.Fang & J.Dietrich