Authors: Christa Gibbs, Benedict Guttman-Kenney, Donghoon Lee, Scott Nelson, Wilbert van der Klaauw, and Jialan Wang
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Staff Reports
Consumer Credit Reporting Data
Number 1114
August 2024
August 2024
JEL classification: D10, D82, E21, G50, H31
Since the 2000s, economists across fields have increasingly used consumer credit reporting data for research. We introduce readers to the economics of and the institutional details of these data. Using examples from the literature, we provide practical guidance on how to use these data to construct economic measures of borrowing, consumption, credit access, financial distress, and geographic mobility. We explain what credit scores measure, and why. We highlight how researchers can access credit reporting data via existing datasets or by creating new datasets, including by linking credit reporting data with surveys and external datasets.
Author Disclosure Statement(s)
Christa Gibbs
Prior to circulation, this paper was reviewed in accordance with the Consumer Financial Protection Bureau policy on independent research. Christa Gibbs works for the Consumer Financial Protection Bureau which implements and enforces Federal consumer financial laws, including those discussed in this paper.
Benedict Guttman-Kenney
Benedict Guttman-Kenney acknowledges financial support from the National Bureau of Economic Research's (NBER) PhD Dissertation Fellowship on Consumer Financial Management funded by the Institute of Consumer Money Management.
Donghoon Lee
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Scott Nelson
The author (Scott Nelson) declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Wilbert van der Klaauw
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Jialan Wang
Wang acknowledges support from the Gies College of Business.
Prior to circulation, this paper was reviewed in accordance with the Consumer Financial Protection Bureau policy on independent research. Christa Gibbs works for the Consumer Financial Protection Bureau which implements and enforces Federal consumer financial laws, including those discussed in this paper.
Benedict Guttman-Kenney
Benedict Guttman-Kenney acknowledges financial support from the National Bureau of Economic Research's (NBER) PhD Dissertation Fellowship on Consumer Financial Management funded by the Institute of Consumer Money Management.
Donghoon Lee
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Scott Nelson
The author (Scott Nelson) declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Wilbert van der Klaauw
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Jialan Wang
Wang acknowledges support from the Gies College of Business.
Suggested Citation:
Gibbs, Christa, Benedict Guttman-Kenney, Donghoon Lee, Scott Nelson, Wilbert van der Klaauw, and Jialan Wang. 2024. “Consumer Credit Reporting Data.” Federal Reserve Bank of New York Staff Reports, no. 1114, August. https://doi.org/10.59576/sr.1114
Gibbs, Christa, Benedict Guttman-Kenney, Donghoon Lee, Scott Nelson, Wilbert van der Klaauw, and Jialan Wang. 2024. “Consumer Credit Reporting Data.” Federal Reserve Bank of New York Staff Reports, no. 1114, August. https://doi.org/10.59576/sr.1114
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