The CARD Act and Young Borrowers: The Effects and the Affected
研究一项限制21岁以下个人信贷的新法律，发现该法律使年轻人持有信用卡的概率降低8个百分点（15%），且持卡者更可能拥有联名卡，并识别了最可能受影响的群体特征。
We study a new law that restricts credit to individuals under age 21. We first use a difference‐in‐difference approach to estimate the effect of the law on credit card availability. Following the passage of the law, individuals under age 21 are 8 percentage points (15%) less likely to have a credit card, have fewer cards, and, conditional on having a card at all, are 35% more likely to have a cosigned card. We then use data from before the passage of the law to identify the characteristics of those individuals most likely to be affected by the Act.