Data and Code for: "Consumer Credit and the Incidence of Tariffs: Evidence from the Auto Industry"
Principal Investigator(s): View help for Principal Investigator(s) Kristine Hankins, University of Kentucky; Morteza Momeni, Tennessee Tech University; David Sovich, University of Kentucky
Version: View help for Version V1
Project Description
Paper Abstract:
"Captive finance subsidiaries create a channel for trade policy to affect consumer credit. Examining the impact of the Trump administration's metal tariffs on captive automobile lenders, we find that consumers received higher interest rates from captive lenders after the tariffs relative to unaffected non-captive lenders. Further, we document a disparate impact on low-income borrowers and in areas with less lending competition. Our results suggest that tariffs may impact not only the price of goods but also the financing terms of purchases. Thus, focusing solely on directly affected product prices may underestimate tariff pass-through significantly."
Scope of Project
F13 Trade Policy; International Trade Organizations
G23 Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
H22 Taxation and Subsidies: Incidence
New vehicle sales between 2017 and 2018.
Methodology
The final vehicle sales sample consists of roughly 2 million new vehicles sold and registered in the state of Texas.
The new vehicle sales sample comes from the State of Texas Department of Motor Vehicles.
1. Publicly available data.
2. Confidential vehicle sales price data from the Texas Department of Motor Vehicles.
3. Confidential consumer credit data from Equifax.
Related Publications
Published Versions
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as received from the data depositor. As of April 2026, depositors are required to submit study materials in accessible formats. ICPSR has not reviewed, checked, or processed this material. For additional information about the study, please contact the investigator(s) directly. If you have questions about the accessibility of materials distributed by ICPSR or require further assistance, please visit ICPSR's Accessibility Center.