Pawnbroking in America: The Economics of a Forgotten Credit Market
调查了美国典当行在信贷市场中的作用，发现它们为被银行和金融公司排斥的数百万低收入美国人提供小额担保贷款，并分析了各州利率上限及行业百年来的区域兴衰趋势。
This paper surveys the role of pawnbroking in U.S. credit markets. Among the findings are: pawnshops provide very small secured loans to millions of low-income Americans excluded from bank and finance company credit. Most states regulate pawnshop finance charges, with the majority setting ceilings between 36 and 240 percent APR. Over the past century, pawnbroking has grown dramatically in the Southern and Central Mountain States, while shrinking in the Northeast. This article offers explanations for these trends as well as for the recent nationwide boom in the industry. Copyright 1991 by Ohio State University Press.