To analyze the impact of pay day loan bans on conventional types of credit, we utilize data through the Federal Reserve Bank of the latest York’s credit Panel/Equifax (CCP). 11 The CCP is really a nationally representative longitudinal database with step-by-step details about personal debt, obtained quarterly and produced from consumers’ credit records maintained by Equifax, certainly one of the nation’s three major credit reporting agencies. We work with a 5 % test for the CCP information, corresponding up to a .25 % sample for the populace. Quarterly information on specific charge card, retail card, and customer finance loan balances can be obtained from 2006 to 2012, yielding an example of 6 million person-quarters. 12
Both the CPS while the CCP data include information on participants’ demographic characteristics. Fortsätt läsa ”Initial two waves of this CPS data span three loan that is payday: Arizona, Montana, and brand New Hampshire.”