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Author: Thomas A. Durkin Publisher: Springer Science & Business Media ISBN: 1461514150 Category : Business & Economics Languages : en Pages : 340
Book Description
As both the twenty-first century and the new millennium opened and the old eras passed into history, individuals and organizations throughout the world advanced their listings of the most significant people and events in their respective specialties. Possibly more important, the tum of the clock and calendar also offered these same observers a good reason to glance into the crystal ball. Presumably, the past is of greatest interest to most people when it permits better understanding of the present, and maybe even limited insight into the outlook. In keeping with the reflective mood of the time, the staff and friends of the Credit Research Center (CRC) at Georgetown University's McDonough School of Business noted that the beginning of the new millennium also marked the beginning of the second quarter-century of the Center's existence. The Center began at the Krannert Graduate School of Management at Purdue University in 1974 and moved to the McDonough School of Business at Georgetown University in 1997. The silver anniversary of its founding offered the occasion for creating more than another listing of significant past accomplishments and milestones. Rather, it offered the opportunity and, indeed, a mandate for CRC as an academic research center, to undertake a retrospective and future look into the status of research questions pertaining to consumer credit markets. For this reason, the Center organized a research conference which was held in Washington, D. C.
Author: Thomas A. Durkin Publisher: Springer Science & Business Media ISBN: 1461514150 Category : Business & Economics Languages : en Pages : 340
Book Description
As both the twenty-first century and the new millennium opened and the old eras passed into history, individuals and organizations throughout the world advanced their listings of the most significant people and events in their respective specialties. Possibly more important, the tum of the clock and calendar also offered these same observers a good reason to glance into the crystal ball. Presumably, the past is of greatest interest to most people when it permits better understanding of the present, and maybe even limited insight into the outlook. In keeping with the reflective mood of the time, the staff and friends of the Credit Research Center (CRC) at Georgetown University's McDonough School of Business noted that the beginning of the new millennium also marked the beginning of the second quarter-century of the Center's existence. The Center began at the Krannert Graduate School of Management at Purdue University in 1974 and moved to the McDonough School of Business at Georgetown University in 1997. The silver anniversary of its founding offered the occasion for creating more than another listing of significant past accomplishments and milestones. Rather, it offered the opportunity and, indeed, a mandate for CRC as an academic research center, to undertake a retrospective and future look into the status of research questions pertaining to consumer credit markets. For this reason, the Center organized a research conference which was held in Washington, D. C.
Author: Thomas A. Durkin Publisher: Financial Management Associati ISBN: 0195169921 Category : Business & Economics Languages : en Pages : 737
Book Description
This article provides an introduction to a law review symposium by the Journal of Law, Economics, and Policy on our book (co-authored with Michael E. Staten), Consumer Credit and the American Economy (Oxford 2014). The conference, held November 2014, collects several articles responding to and building on the research agenda laid out by our book. For those who have not read the book, this article is intended to summarize several of the main themes of the book, including discussion of economic models of consumer credit usage, trends in consumer credit usage over time, the use of high-cost credit, and behavioral economics.
Author: Thomas A. Durkin Publisher: ISBN: Category : Languages : en Pages : 38
Book Description
The growth of the American economy in the post-War era has been characterized by a growth in the consumer economy as a fundamental driving force in the economy. In turn, this growth in the consumer economy has been driven by a growth in usage and spread of the use of consumer credit. Yet the relationship between consumer credit and the American economy remains little understood and little explored by economists.This book explores the institutions, history, and economics of consumer credit, focusing especially on the causes and consequences of the growth of consumer credit in the post-War era. Focusing primarily on consumer, non-mortgage debt, we identify the reasons for growing use of consumer credit and public policy responses to it. Starting with the basic question of “Why do consumers borrow?” we consider the evolution of consumer credit institutions and the manner in which these evolutions have co-evolved with other elements of society and the economy and the ways in which these factors have transformed American society. We also discuss contrary hypotheses, such as the long-standing research efforts to study consumer behavior from the perspective of consumer psychology (recently taking the form of so-called Behavioral Economics) and the ways in which these views have been incorporated into the study of consumer credit. Most important, as the government stumbles through efforts to respond to the most recent financial crisis, we argue that a proper understanding of how consumers actually use consumer credit and the impact on the American economy is essential for sound policy-making.We present here Chapter 1, the Introduction to Consumer Credit and the American Economy, which provides an overview of the book and frames the discussions to follow.
Author: Sarah Brown Publisher: Edward Elgar Publishing ISBN: 1784712493 Category : Law Languages : en Pages : 256
Book Description
This incisive book gives a comprehensive overview of the regulation of consumer credit in both the US and the UK. It covers policy, procedure and the dynamics of the consumer credit relationship to advocate for a balanced approach in achieving more effective consumer protection.
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs Publisher: ISBN: Category : Consumer credit Languages : en Pages : 38
Author: Mallory SoRelle Publisher: ISBN: Category : Languages : en Pages : 582
Book Description
Consumer credit is central to the U.S. economy, as both a driver of mass consumption and a key source of financial support for the average American. As consumer borrowing has proliferated in recent decades, so too has the prevalence of predatory lending. The growth of consumer borrowing under increasingly unsustainable conditions poses serious risks to the financial security of individuals and the American economy. Yet, policymakers have failed to enact effective consumer financial protections, and consumers have not engaged in political action to address complaints with credit. Advocacy groups have also been stymied in their efforts to mobilize consumers and to lobby regulators in support of stronger consumer financial protections. Why have these actors struggled to address problems with such an important part of the U.S. economy through political action? I propose a policy-centered answer. I argue that the U.S. has a political economy of credit in which New Deal policymakers deliberately embraced credit to fuel a consumption economy, consequently prioritizing the performance of the national economy over the protection of individual borrowers. Constrained by a scheme of their own invention, I contend that legislators are forced to prioritize widespread credit access over meaningful consumer protection, leading to the adoption of information disclosures as the primary form of credit regulation. Once enacted, the design, implementation, and administration of these policies produce regulatory feedback effects that reshape the political behavior of bureaucrats, consumer advocates, and ordinary Americans. First, credit policies privatize and personalize the use of consumer credit, diminishing citizen political engagement and complicating advocacy mobilization efforts. Second, administrative authority for credit policy is fragmented across agencies designed to promote the financial security of banks over that of individuals, leading to regulatory arbitrage that obstructs bureaucratic policymaking, public interest lobbying, and consumer participation in the regulatory arena. I employ multiple methods, leveraging archival research, legislative analyses, public opinion and complaint data, a survey experiment, and elite interviews to explore these dynamics. I conclude that these feedback effects contribute to the ongoing failure to enact meaningful consumer credit protections, ultimately threatening the financial security of borrowers and the nation as a whole.
Author: Jing J. Xiao Publisher: Springer Science & Business Media ISBN: 0387757341 Category : Psychology Languages : en Pages : 423
Book Description
This handbook surveys the social aspects of consumer behavior, offering latest data and original research on current consumer needs as well as identifying emerging areas of research. This accessible volume (which can be read without advanced training in the field) starts with current concepts of risk tolerance, consumer socialization, and financial well-being, and moves on to salient data on specific settings and populations such as high school students and the older consumer.
Author: Thomas A. Durkin
Author: Thomas A. Durkin
Author: Thomas A. Durkin
Author: Thomas A. Durkin
Author: Paul Winston McCracken
Author: Sarah Brown
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs
Author: Mallory SoRelle
Author: Jing J. Xiao
Author: Paul Winston McCracken
Author: Roberta Anne Ward