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首页> 外文期刊>The North American journal of economics and finance >Factors affecting delinquency of household credit in the U.S.: Does consumer sentiment play a role?
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Factors affecting delinquency of household credit in the U.S.: Does consumer sentiment play a role?

机译：影响美国家庭信用违法者的因素：消费者情绪是否发挥作用？

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摘要

In this study, we provide both theoretical and empirical evidence on the determinants of household loan delinquency for home ownership, credit card and auto loans for the U.S. states in a panel framework over a period from 2003 through 2017. In particular, we examine the impact of consumer sentiments on loan delinquency rates. We show that improved current consumer sentiment significantly induce lower mortgage, credit card and automobile loan defaults in the American states subdivided into four different regions. We also find that the higher overall and expected consumer sentiment raise loan delinquencies. Implicit in this finding is the apparently excessive and inappropriate expansion of loans in the U.S. economy in the face of consumers' optimism, which in turn, provides an intuitive understanding of the circumstances that could precede a depression or outbreak of anomalies in the financial sector. Our general findings further exhibit significant positive effect of unemployment rate and mostly adverse effect of per capita income on mortgage and automobile loan delinquency rates. The results provide some compelling evidence with regard to the effect of consumer confidence on household credit delinquency rates across various states in the U.S. and are robust to alternative measures of income and mortgage rates.
机译：在这项研究中，我们在2003年至2017年的一段时间内为美国国有贷款，信用卡及自动贷款的家庭贷款，信用卡和汽车贷款的决定因素提供理论和经验证据。特别是，我们研究了影响作者：王莹，消费者对贷款拖欠率的情绪。我们表明，改善的当前消费者情绪显着促使美国国家细分为四个不同地区的美国国家的较低抵押贷款，信用卡和汽车贷款违约。我们还发现，总体和预期的消费者情绪更高，提高了贷款拖欠。在这一发现中隐含是美国经济在消费者乐观方面显然过度和不恰当的扩张，这反过来，这反过来又提供了对金融部门抑郁或爆发异常的情况的直观理解。我们的一般调查结果进一步表现出严重的失业率积极影响，大多数人均收入对抵押贷款和汽车贷款拖欠率的额外不利影响。结果提供了一些令人信服的证据，了解消费者对美国各国各州家庭信贷犯罪率的影响，并对收入和抵押贷款措施的替代措施强劲。

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