Do we know what we owe? Consumer debt as reported by borrowers and lenders

[...]we continue to seek opportunities to observe linked consumer self-reports and lender-reported data.48 Until such data are available, however, the detailed comparisons permitted by the rich SCF and CCP data provide our most complete picture of the reliability of debt reporting. [...]while existi...

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Bibliographic Details
Published in:Economic Policy Review - Federal Reserve Bank of New York 2015-10, Vol.21 (1), p.19
Main Authors: Brown, Meta, Haughwout, Andrew, Lee, Donghoon, van der Klaauw, Wilbert
Format: Article
Language:English
Subjects:
Accuracy
Aggregates
Analysis
Bankruptcy laws
Behavior
Consumer behavior
Consumer credit
Consumers
Credit cards
Debt
Decision making
Economic aspects
Financial markets
Forecasts and trends
Households
Lines of credit
Mortgages
Personal bankruptcy
Personal finance
Polls & surveys
Quality
Statistics
Student debt
Student loans
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Summary:[...]we continue to seek opportunities to observe linked consumer self-reports and lender-reported data.48 Until such data are available, however, the detailed comparisons permitted by the rich SCF and CCP data provide our most complete picture of the reliability of debt reporting. [...]while existing survey data provide limited opportunity to separate unwillingness to report financial information from lack of knowledge of financial information, experimental data might permit a distinction between knowledge of debt and willingness to report debt.
ISSN:1932-0426
1932-0604