A Bayesian analysis of payday loans and their regulation

Mingliang Li, Kevin Mumford and Justin Tobias ()

Journal of Econometrics, 2012, vol. 171, issue 2, 205-216

Abstract: Payday loans are small short-term loans that a borrower must repay or renew on his/her next payday. In states where payday lending is legal, many terms of these loans are regulated, ostensibly to protect the consumer from excessively burdensome lending practices.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:econom:v:171:y:2012:i:2:p:205-216

DOI: 10.1016/j.jeconom.2012.06.010

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