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DEBBAUT, PETER; GHENT, ANDRA; KUDLYAK, MARIANNA
Journal of money, credit and banking, October 2016, Letnik: 48, Številka: 7Journal Article
We study a new law that restricts credit to individuals under age 21. We first use a difference-in-difference approach to estimate the effect of the law on credit card availability. Following the passage of the law, individuals under age 21 are 8 percentage points (15%) less likely to have a credit card, have fewer cards, and, conditional on having a card at all, are 35% more likely to have a cosigned card. We then use data from before the passage of the law to identify the characteristics of those individuals most likely to be affected by the Act.
