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Low-Income Consumers and Payment Choice
2020
Federal Reserve Bank of Atlanta, Working Papers
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Low-income consumers are not only constrained with spending, but also with the type and variety of payment methods available to them. Using a representative sample of the U.S. adult population, this paper analyzes the low possession (adoption) of credit and debit cards among lowincome consumers who are also unbanked. Using a random utility model, I estimate the potential welfare gains associated with policy options suggested in the literature to provide subsidized and unsubsidized debit cards
doi:10.29338/wp2020-03
fatcat:rzg53beasjezhmqzuppk6lec6q