We dedicated to the continuing state of Ca, which joined into an understanding with all the management of President Barack Obama for very very early county-by-county utilization of the ACAвЂ™s Medicaid expansion last year and 2012. We learned the first expansions in Ca, because our information would not give you a time that is sufficiently long to analyze the 2014 expansions and provided reasonably small information regarding loans various other very very very early expansion states. We compared California counties that expanded Medicaid early to counties nationwide that didn’t do this, including four Ca counties that delayed expansion.
We aggregated the CFSA information towards the county-month degree, producing loan that is aggregate, standard prices, as well as other measures of loan volumes and results in each county and thirty days combination. The aggregated information set contained 58,020 county-month observations for the time scale 2009вЂ“13, which covered approximately twenty-four months before and twenty-four months following the Ca Medicaid expansions. Ca rolled away Medicaid expansion over 2011 and 2012, and the dates were used by us of expansion by county given by Benjamin Sommers and coauthors. 17 These times are listed in Appendix Exhibit A2, along side county-specific normal monthly payday borrowing before to expansion. 16 Appendix Exhibit A3 shows the study that is aggregate data. 16 We examined outcomes into the 43 expansion counties in Ca, utilizing as an assessment team 920 counties in nonexpanding states and 4 Ca counties that delayed expansion.
Our outcomes that are primary three measures of loan volume: the sheer number of loans, the money lent, and also the wide range of unique borrowers. We measured borrowers that are unique the info every month utilizing the data setвЂ™s anonymized debtor identifiers. Medicaid expansions offer medical insurance for uninsured grownups more youthful than age 65, therefore we stratified our results by age and dedicated to individuals more youthful than age 65. offered past research findings that Medicaid expansions disproportionately benefited those more youthful than age 50, we further examined the circulation associated with wide range of loans among nonelderly grownups by borrowerвЂ™s age .
Also, we believed that we may see greater reductions in payday lending within counties with greater preexpansion stocks of low-income uninsured grownups. We investigated this possibility by comparing counties with a higher share of uninsured to individuals with a share that is low. Counties classified as having a share that is high those in the utmost effective tercile associated with the share uninsured with incomes of not as much as 138 per cent for the federal poverty degree, based on the 2010 Census BureauвЂ™s Small Area medical health insurance quotes; counties classified as having a decreased share had been when you look at the base tercile.
Our additional results had been the stocks of loans that ended in standard, were repaid belated, and had been rollovers. Rollovers are loans which are applied for during the time that is same past loan is born, makes it possible for the debtor to increase the loanвЂ™s extent without repaying the principalвЂ”in change for having to pay a finance fee. We identified most likely rollovers within the data as loans that started within 2 days of the past deadline for similar debtor and lender that is same. 18
Both for our main and secondary results, we utilized a typical difference-in-differences analysis of county-month results that covered roughly twenty-four months before and twenty-four months following the 2011вЂ“2012 Ca Medicaid expansions. As noted above, we compared 43 Ca expansion that is early to 924 nonexpansion payday loan companies in Harlingen Texas counties (like the 4 earlier mentioned nonexpansion California counties) within the national information set, with standard mistakes clustered in the county degree. We stratified our findings because of the chronilogical age of the borrowerвЂ”focusing on individuals more youthful than age sixty-five, that would have been likely become affected by Medicaid expansion. As being a sensitiveness test (see Appendix display A7), 16 we examined borrowers avove the age of age sixty-five and utilized a triple-differences approach in the level that is county-month-age.