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final, we carried out an “event study” regression, described above, to assess any preexisting time styles in payday financing.

final, we carried out an “event study” regression, described above, to assess any preexisting time styles in payday financing.

To eliminate systemic preexisting time trends that may have undermined our difference-in-differences approach, we estimated an “event study” regression for the effectation of Medicaid expansion from the range loans. This tested the legitimacy of our presumption that payday borrowing might have had comparable styles in expansion and nonexpansion counties if none regarding the counties had expanded Medicaid. The regression included a set impact for virtually any county, a fixed effect for each month, and indicators for four six-month durations before Medicaid expansion and three six-month durations after expansion (see Appendix Exhibit A8). 16

Limitations

Our research had not been in a position to straight connect specific insurance coverage status to payday borrowing; to the knowledge, the info to do so usually do not exist.

Furthermore, although we discovered no proof of this, we’re able to perhaps not rule the possibility out that state- or county-level alterations in the legislation (or enforcement of laws) of pay day loans or any other industry modifications may have took place Ca within the duration 2010–14. Nevertheless, we tested the appropriateness of our approach in a number of methods. First, we stratified our models by generation (individuals more youthful or https://californiapaydayloanonline.com/ avove the age of age sixty-five): those who work in younger team will be beneficiaries regarding the Medicaid expansion, while those in the older group wouldn’t normally, given that they will be entitled to Medicare. 2nd, we examined just how alterations in payday financing diverse aided by the share of uninsured individuals within the county before expansion: we might be prepared to find a larger lowering of payday financing in areas with greater stocks compared to areas with reduced stocks. Continue reading