30 mar Econometric Specs

Econometric Specs

So that you can make use of cross-state law variation we use the following specification:

where is an upshot of interest such as for instance amount borrowed, and generally are in dollars, and are usually in days, together with other five law variables are binary. Since the main way to obtain variation is variations in regulations across states we can't include state fixed impacts, but we could at the least partially account for cross-state differences with , a vector of macroeconomic factors including unemployment that is monthly their state degree supplied by the Bureau of Labor Statistics and month-to-month household costs during the zip rule degree given by CoreLogic.

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