Credit for the poor: the decline of pawnbroking 1880–1930
利用瑞典卡尔斯克鲁纳1880–1930年的详细证据，解释欧洲19世纪末20世纪初典当业衰落的原因，发现主要源于劳动力市场改善（实际工资上升和就业机会增加），而非监管、其他信贷来源或福利扩张的影响。
This article is an attempt to explain the decline in pawnbroking over the late nineteenth-century and early twentieth-century Europe, using detailed evidence from Karlskrona in Sweden, 1880–1930. I find that the decline is largely due to changes in demand for pawning, notably improved labor market conditions as reflected in rising real wages and employment opportunities. Instead, there is no evidence for an effect of changes in regulation, the availability of other sources of credit, or the expansion of the welfare system.