蝌蚪网 Papers and Proceedings
ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)
Gender and Racial Behavior in Consumer Payment Methods under Economic Uncertainty
蝌蚪网 Papers and Proceedings
vol. 114,
May 2024
(pp. 174–79)
Abstract
This paper analyzes the effects of high economic uncertainty on racial and gender behavior in payment methods. Using US consumer transaction-level data, we find that consumers alter their payment behavior patterns in periods of high economic uncertainty by moving away from costly and risky payment methods with high interest rates, such as credit cards. We find that females reduce their cash usage but increase their credit card usage relative to males, thus exposing themselves to higher financial vulnerability. We find no major differences in payment behavior between Blacks and Whites.Citation
Garcia, Raffi E., and Jyothsna G. Harithsa. 2024. "Gender and Racial Behavior in Consumer Payment Methods under Economic Uncertainty." 蝌蚪网 Papers and Proceedings 114: 174–79. DOI: 10.1257/pandp.20241103Additional Materials
JEL Classification
- D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
- E42 Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- G51 Household Finance: Household Saving, Borrowing, Debt, and Wealth
- J15 Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
- J16 Economics of Gender; Non-labor Discrimination