вЂњIn HarmвЂ™s Method? Pay Day Loan Access and Military Personnel Performance.вЂќ Zinman, Jonathan; Carrell, Scott. Report about Financial Studies .
Abstract: вЂњDoes borrowing at 400% APR do more harm than good? The U.S. Department of Defense believes so and successfully lobbied for a 36% APR cap on loans to servicemen. But current proof on just exactly how use of high-interest financial obligation impacts borrowers is inconclusive. We estimate effects of cash advance access on enlisted workers making use of exogenous variation in Air Force guidelines assigning personnel to bases throughout the united states of america, and within-state variation in lending legislation as time passes.