1 Introduction. Over two years since its emergence, payday financing stays…

1 Introduction. Over two years since its emergence, payday financing stays… Over 2 full decades since its emergence, payday financing stays a divisive subject for economists and policymakers. No conscensus happens to be reached on whether use of these high-cost, short-term balloon loans makes consumers best off or even worse. Advocates point out situations where payday advances look like…

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