25 nov We discovered big reductions that are relative borrowing after the Medicaid expansion among men more youthful than years sixty-five
The difference-in-differences methodology we relied on contrasted payday financing before and after CaliforniaвЂ™s early Medicaid expansion when you look at the stateвЂ™s expansion counties versus nonexpansion counties nationwide. To manage for confounding, time-varying aspects that influence all counties at specific days (such as for instance recessions, holidays, and seasonality), this method put nonexpansion counties, in Ca along with other states, being a control team.
Display 1 presents quotes associated with influence of Medicaid expansion in the general amount of payday financing, our main results; the table that is accompanying in Appendix Display A4. 16 how many loans removed each month declined by 790 for expansion counties, compared to nonexpansion counties. Provided a preexpansion suggest of 6,948 loans per thirty days, that amounts to an 11 per cent fall within the quantity of loans. This decrease in loan volume equals a $172,000 decrease in borrowing per thirty days per county, from the suggest of $1,644,000вЂ”a fall of ten percent. And 277 less unique borrowers per county-month took down loans, which represents an 8 per cent decrease through the preexpansion suggest of 3,603.
Display 1 aftereffect of very early expansion of eligibility for Medicaid on month-to-month payday advances for borrowers more youthful than years 65, 2009вЂ“13
Display 2 presents the result of Medicaid expansion from the amount of loans in three years groups: 18вЂ“34, 35вЂ“49, and 50вЂ“64; the accompanying table was in Appendix Display A5. 16 The decrease in how many loans each month is completely driven by borrowers young than years fifty (the small enhance among older borrowers had not been significant).