Board B shows a density histogram of credit ratings
Pooling the info through the lender-process trials, we show a first-stage discontinuity storyline in panel A of Figure 1 and story a histogram regarding the operating diverse (lender credit rating) in panel B. The figure illustrates a definite jump within limit inside the possibility of obtaining that loan within a week for earliest application. The approximated hop try 45 portion things. Similar sized leaps can be found whenever we stretch the window for obtaining an instant payday loan to 10 days, a month, or as much as 2 years, with quotes shown in Table 1. 15
