Debt-financed consumption sprees: Regulation, freedom and habits of thought

Journal of Economic Issues

Volumn 44, Issue 2, 2010, Pages 459-470

  Starr, Martha A ^a  

^a AMERICAN UNIVERSITY   (United States)

Author keywords

Consumer debt; Consumer protection; Consumption; Spending habits

Indexed keywords

EID: 77953468251     PISSN: 00213624     EISSN: None     Source Type: Journal    
DOI: 10.2753/JEI0021-3624440218     Document Type: Article

References (32)

1. Adkisson, Richard and Randy McFerrin. "Living Large: Evolving Consumer Credit Institutions and Privately Induced Transfer Payments." Journal of Economic Issues 39. 2 (2005): 447-455.
2. Acharya, Viral and Matthew Richardson (eds.). Restoring Financial Stability: How to Repair a Broken System. Hoboken, NJ: John Wiley, 2009.
3. Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet and Douglas Evanoff. "Do Financial Counseling Mandates Improve Mortgage Choice and Performance? Evidence from a Legislative Experiment." Working Paper No. 2009-2107. Chicago, IL: Federal Reserve Bank of Chicago, Oct. 2009.
4. Barr, Michael, Sendhil Mullainathan and Eldar Shafir. "Behaviorally Informed Financial Services Regulation." New American Foundation Working Paper, Oct. 2008.
5. Bernanke, Ben. "The Global Savings Glut and the U.S. Current Account Deficit." Address to the Virginia Association of Economics. Richmond, VA, March 10. 2005.
6. -. "Financial Innovation and Consumer Protection." Remarks at the Federal Reserve System's Community Affairs Research Conference, Washington, DC, April 17. 2009.
7. Bernheim, Douglas, Daniel Garrett and Dean Maki. "Education and Saving: The Long-term Effects of High School Financial Curriculum Mandates." Journal of Public Economics 8. (2001): 435-565.
8. Bikhchandani, Sushil, David Hirshleifer and Ivo Welch. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades." Journal of Political Economy 100. 5 (1992): 992-1026.
9. Boyd, Robert and Peter Richerson. Culture and the Evolutionary Process. Chicago: University of Chicago Press, 1985.
10. Burhouse, Susan, Angelisa Harris and Luke Reynolds. "Banking on Financial Education." FDIC Quarterly 1. 2 (2007): 33-42.
11. Calhoun, Michael. "H.R. 1728.Mortgage Reform and Anti-Predatory Lending Act of 2009." Testimony before the U.S. House of Representatives, Committee on Financial Services. Washington, DC: April 23. 2009.
12. Carlin, Bruce Ian, Simon Gervais and Gustavo Manso. "When Does Libertarian Paternalism Work?" Working Paper No. 15139. Cambridge, MA: National Bureau of Economic Research, July 2009.
13. Cordes, Christian. "The Role of Biology and Culture in Veblenian Consumption Dynamics." Journal of Economic Issues 43. 1 (2009): 115-142.
14. Evans, David and Joshua Wright. "The Effect of the Consumer Financial Protection Agency Act of 200. on Consumer Credit." George Mason Law & Economics Research Paper No. 09-50. Fairfax, VA: October 2009.
15. Farmer, Roger. Expectations, Employment and Prices. Oxford, UK: Oxford University Press, 2010.
16. Galbraith, James K. "Statement to the U.S. House of Representatives, Committee on Financial Services, Subcommittee on Domestic Monetary Policy and Technology." Washington, DC: July 9. 2009.
17. Gramlich, Edward. Subprime Mortgages: America's Latest Boom and Bust. Washington, DC: Urban Institute Press, 2007.
18. Keest, Kathleen. "Regulatory Restructuring: Enhancing Consumer Financial Products Regulation." Testimony before the U.S. House of Representatives, Committee on Financial Services. Washington, DC: June 24. 2009.
19. Kuran, Timur and Cass Sunstein. "Availability Cascades and Risk Regulation." Stanford Law Review 51. 4 (1999): 683-768.
20. Mackun, Paul. "Population Change in Central and Outlying Counties of Metropolitan Statistical Areas, 200. to 2007." Current Population Report No. P25-1136. Washington, DC: U.S. Census Bureau, June 2009.
21. Manski, Charles. "Social Learning and the Adoption of Knowledge." In The Economy as a Complex Evolving System, edited by Lawrence Blume and Steven Durlauf, pp. 31-48. Oxford: Oxford University Press, 2006.
22. Meier, Stephan and Charles Sprenger. "Selection into Financial Literacy Programs." Discussion Paper No. 07-15 Boston: Federal Reserve Bank of Boston, November 2007.
23. Prasch, Robert E. "Shifting Risk: The Divorce of Risk from Reward in American Capitalism." Journal of Economic Issues 38. 2 (2004): 405-413
24. Ramsey, Dave. Total Money Makeover: A Proven Plan for Financial Fitness. Nashville, TN: Thomas Nelson 2003.
25. Shields, Currin. "The American Tradition of Empirical Collectivism." American Political Science Review 4. (1952): 104-120.
26. Shiller, Robert J. Irrational Exuberance, 2nd edition. Princeton, NJ: Princeton University Press, 2005.
27. Scott, Robert H. III. "Credit Card Use and Abuse: A Veblenian Analysis." Journal of Economic Issues 41. 2 (2007): 567-574.
28. Starr, Martha A. "Lifestyle Conformity and Lifecycle Saving: A Veblenian Perspective." Cambridge Journal of Economics 33. 1 (2009): 25-49.
29. Tilman, Rick. "John R. Commons, the New Deal and the American Tradition of Empirical Collectivism." Journal of Economic Issues 42. 3 (2008): 823-852
30. Veblen, Thorstein. Theory of the Leisure Class: An Economic Study in the Evolution of Institutions. New York: Macmillan, 1899.
31. Warren, Elizabeth. "Product Safety Regulation as a Model for Financial Services Regulation." Journal of Consumer Affairs 42. 3 (2008): 452-460
32. Willis, Lauren. "Against Financial Literacy." Research Paper No. 08-10. Philadelphia, PA: University of Pennsylvania Law School, March 2008.