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Limitations on simultaneous borrowing

Simultaneous borrowing limitations are split into two factors: the limitation on absolute quantity of loans, together with restriction associated with wide range of loans per loan provider. Both of these are collapsed into binary variables in regression analysis. These factors just take the value 1 if the continuing state limits clients to 1 loan at any given time, and 0 otherwise. This means states restricting customers to several loans at any given time are believed comparable to states with no limit. This choice ended up being manufactured in light associated with the undeniable fact that in states without any restriction its unusual to borrow a lot more than two loans at any given time; consequently, a limitation of two loans is not likely to be binding on numerous clients. Continue reading

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