Table 3.
21 Treatment States | 14 Treatment States | |||||
---|---|---|---|---|---|---|
26 Potential Control States | 24 Potential Control States | |||||
Outcome | Ages 19–32 | Ages 33–44 | Ages 45–64 | Ages 19–32 | Ages 33–44 | Ages 45–64 |
(1) | (2) | (3) | (4) | (5) | (6) | |
Credit Score | 1 | 2* | 2* | −1 | 1 | 1 |
(0.363) | (0.069) | (0.059) | (0.492) | (0.679) | (0.325) | |
Total Balance | −203 | 8 | −135 | −250 | 222 | −151 |
(0.364) | (0.972) | (0.483) | (0.213) | (0.449) | (0.544) | |
Total Balance Past Due | 54 | −52 | −128*** | 52 | 17 | 41 |
(0.297) | (0.378) | (0.009) | (0.449) | (0.832) | (0.454) | |
Total Credit Card Balance | −17 | −84 | −167** | −51* | −97* | −104* |
(0.580) | (0.105) | (0.012) | (0.091) | (0.071) | (0.052) | |
Total Credit Card Balance Past Due | −11 | −92** | −89** | −9 | −8 | −13 |
(0.580) | (0.019) | (0.035) | (0.611) | (0.817) | (0.692) | |
Total Collections Balance in Past 12 Months | −71*** | −104*** | −74*** | −94*** | −93*** | −50** |
(0.004) | (0.000) | (0.001) | (0.004) | (0.010) | (0.035) | |
Number of Collections in Past 12 Months | −0.044** | −0.036 | −0.028* | −0.062** | −0.059** | −0.037* |
(0.042) | (0.172) | (0.096) | (0.023) | (0.050) | (0.068) | |
Bankruptcy in Past 24 Months | −0.001 | −0.002 | −0.002* | 0.002 | 0.000 | −0.001 |
(0.447) | (0.129) | (0.098) | (0.111) | (0.737) | (0.252) |
Table 3 reports the estimates of the post-2014 differences in financial indicators between treated and synthetic control states by age group for the most treated zip code. The synthetic control weights are determined by matching on all values of the dependent variable in the pre-reform period. Columns (1) – (3) present the results for each age group in the broad sample with 21 treatment states and 26 potential control states. Columns (4) – (6) present the results for each age group in the narrow sample with 14 treatment states and 24 potential control states. For each age group, we present the average post-reform quarterly difference between the treated states and their synthetic counterpart. In addition to AK, IN, NH, and PA, DC and MA are dropped from all age results due to not having enough observations for many credit categories. HI is also dropped from ages 19–32 results. Bolded results are also significant at the 5% level when the Holm-Bonferroni correction using 8 outcomes is applied to assess absolute gap p-values.
Significance levels:
10%,
5%,
1%.