Jennifer Andre , Breno Braga , Kassandra Martinchek , Signe-Mary McKernan
{"title":"在 COVID-19 大流行期间,州公用事业暂停对信贷拖欠的影响","authors":"Jennifer Andre , Breno Braga , Kassandra Martinchek , Signe-Mary McKernan","doi":"10.1016/j.jeconbus.2024.106170","DOIUrl":null,"url":null,"abstract":"<div><p>The number of people in financial distress was expected to increase in the wake of the COVID-19 pandemic, with the most vulnerable populations likely suffering the most. To protect the most disadvantaged, states implemented emergency measures such as utility shutoff moratoria, which prevented utility companies from disconnecting families’ energy and water services due to non-payment. Using credit bureau data on five million consumers, we investigate how a utility shutoff moratorium impacted consumers’ credit delinquencies. We find that adults living in states that implemented such protections were less likely to be late in the payment of their credit cards and auto & retail loan bills during the pandemic. We also find that a state utility shutoff moratorium reduced the likelihood of consumers’ unpaid debt being sent to collections during the pandemic. Residents of majority-Black communities benefited the most from a utility shutoff moratorium. These results suggest that families in states with a utility shutoff moratorium used this economic relief to pay their financial obligations in time.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"129 ","pages":"Article 106170"},"PeriodicalIF":3.3000,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The effects of state utility shutoff moratoria on credit delinquencies during the COVID-19 pandemic\",\"authors\":\"Jennifer Andre , Breno Braga , Kassandra Martinchek , Signe-Mary McKernan\",\"doi\":\"10.1016/j.jeconbus.2024.106170\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The number of people in financial distress was expected to increase in the wake of the COVID-19 pandemic, with the most vulnerable populations likely suffering the most. To protect the most disadvantaged, states implemented emergency measures such as utility shutoff moratoria, which prevented utility companies from disconnecting families’ energy and water services due to non-payment. Using credit bureau data on five million consumers, we investigate how a utility shutoff moratorium impacted consumers’ credit delinquencies. We find that adults living in states that implemented such protections were less likely to be late in the payment of their credit cards and auto & retail loan bills during the pandemic. We also find that a state utility shutoff moratorium reduced the likelihood of consumers’ unpaid debt being sent to collections during the pandemic. Residents of majority-Black communities benefited the most from a utility shutoff moratorium. These results suggest that families in states with a utility shutoff moratorium used this economic relief to pay their financial obligations in time.</p></div>\",\"PeriodicalId\":47522,\"journal\":{\"name\":\"JOURNAL OF ECONOMICS AND BUSINESS\",\"volume\":\"129 \",\"pages\":\"Article 106170\"},\"PeriodicalIF\":3.3000,\"publicationDate\":\"2024-03-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"JOURNAL OF ECONOMICS AND BUSINESS\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0148619524000122\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"JOURNAL OF ECONOMICS AND BUSINESS","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0148619524000122","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
The effects of state utility shutoff moratoria on credit delinquencies during the COVID-19 pandemic
The number of people in financial distress was expected to increase in the wake of the COVID-19 pandemic, with the most vulnerable populations likely suffering the most. To protect the most disadvantaged, states implemented emergency measures such as utility shutoff moratoria, which prevented utility companies from disconnecting families’ energy and water services due to non-payment. Using credit bureau data on five million consumers, we investigate how a utility shutoff moratorium impacted consumers’ credit delinquencies. We find that adults living in states that implemented such protections were less likely to be late in the payment of their credit cards and auto & retail loan bills during the pandemic. We also find that a state utility shutoff moratorium reduced the likelihood of consumers’ unpaid debt being sent to collections during the pandemic. Residents of majority-Black communities benefited the most from a utility shutoff moratorium. These results suggest that families in states with a utility shutoff moratorium used this economic relief to pay their financial obligations in time.
期刊介绍:
Journal of Economics and Business: Studies in Corporate and Financial Behavior. The Journal publishes high quality research papers in all fields of finance and in closely related fields of economics. The Journal is interested in both theoretical and applied research with an emphasis on topics in corporate finance, financial markets and institutions, and investments. Research in real estate, insurance, monetary theory and policy, and industrial organization is also welcomed. Papers that deal with the relation between the financial structure of firms and the industrial structure of the product market are especially encouraged.