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3 The Data. Regulatory Variation when you look at the definitions that are data. Variable

Tuesday, September 22nd, 2020

The info in this paper had been supplied by a sizable, anonymous payday loan provider and comprise of all of the loans produced by this lender in 26 states between January 2007 and August 2012. Figure 1 maps the continuing states within the information. The info have no information that is demographic borrowers, but loans meant to similar debtor could be connected across some time location. The road target of this storefront from which the mortgage had been made is well known. The information consist of all measurements associated with the loan agreement, in addition to its payment history. The financial institution makes no direct online loans, though it relates customers to online lending affiliates through its web site. The dataset contains only directly made storefront loans.

The information comprise of 56,143,566 loans made at 2,906 various shops to 3,428,271 customers that are distinct. Once simultaneous loans are combined and thought to be solitary loans (as explained below) this quantity falls to 54,119,468, for on average 15.8 loans per client. (more…)