@article{debbaut_ghent_kudlyak_2016, title={The CARD Act and Young Borrowers: The Effects and the Affected}, volume={48}, ISSN={["1538-4616"]}, DOI={10.1111/jmcb.12340}, abstractNote={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.}, number={7}, journal={JOURNAL OF MONEY CREDIT AND BANKING}, author={Debbaut, Peter and Ghent, Andra and Kudlyak, Marianna}, year={2016}, month={Oct}, pages={1495–1513} }