Industrial noise control manual: revised edition.

Jensen, Paul; Jokel, Charles; Miller, Laymon N.

doi:10.26616/nioshpub79117

Search citation statements

Order By: Relevance

Paper Sections

Select...

Citation Types

Supporting

Mentioning

Contrasting

Year Published

2001

2003

Publication Types

Select...

Article1

Other1

Relationship

Self Cite0

Independent2

Authors

Journals

Cited by 2 publications

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

Debt Revolvers For Self Control

Bertaut

Haliassos

2001

SSRN Journal

View full text Add to dashboard Cite

By 1998, about two-thirds of U.S. households held a bank-type credit card. Despite high interest rates, most revolve credit card debt. The majority of debt revolvers have substantial liquid assets, apparently violating arbitrage. We propose an "accountantshopper" model that could provide an explanation for this puzzle. In our model, the "accountant self" (or spouse) of the household can control the expenditures of the "shopper self" (or spouse) by limiting the purchases the shopper can make before encountering the credit limit. Since the card balance is used for control purposes, the accountant self may also find it optimal to save in lower-return riskless assets. Using attitudinal responses and demographic data from the pooled 1995 and 1998 Surveys of Consumer Finances, we estimate a bivariate probit model of the decisions to have a credit card and to revolve debt on it, allowing for sample selection. The pattern of estimated coefficients is consistent with debt revolvers being motivated primarily by self-control considerations rather than intertemporal consumption smoothing.

show abstract