Much Ado about Nothing? New Evidence on the Effects of Payday Lending on Military Members
利用美军人员随机分配至不同地点，结合三种识别策略，发现发薪日贷款对军人信用和劳动力市场结果几乎没有负面影响。
We evaluate the effect that payday loan access has on credit and labor market outcomes of individuals in the U.S. Army. Using the conditional random assignment of service members to different locations, we employ three identification strategies: cross-sectional variation in state policies, within-term variation in payday lending access, and a difference-in-difference analysis using the national Military Lending Act. We find few adverse effects of payday loan access on service members when using any of these methods, even when we examine dozens of subsamples that explore potential differential treatment effects.