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Abstract: “We exploit a modification of lending rules to calculate the effect that is causal of access to payday advances on alcohol product product product sales. Leveraging lender- and alcohol store-level information, we realize that the noticeable changes reduce sales, utilizing the largest decreases at stores positioned nearest to loan providers. By targeting states with state-run alcohol monopolies, we take into account supply-side factors which are typically unobserved. Our email address details are the first to ever quantify exactly how credit constraints affect paying for alcohol, and suggest mechanisms underlying some loan use. Read the rest of this entry »