Search Results
Journal Article
Identifying amenity and productivity cities using wage and rent differentials
An explanation of how regional wage and rent differentials can be used to classify metropolitan areas according to their amenity and productivity characteristics.
Working Paper
Posted rates as signals in mortgage lending markets
A discussion of how mortgage lenders might use posted lending terms to signal both their eagerness to take new loan applications and their lending standards.
Conference Paper
Lender consistency in housing credit markets
Working Paper
Productivity growth and the decline of manufacturing in large metropolitan areas: 1959-78
An examination of the role of productivity differences in explaining the decline of manufacturing activity in large metropolitan areas relative to the rest of the country, with special attention given to the decline of the large metropolitan areas of the Manufacturing Belt.
Working Paper
Underserved mortgage markets: evidence from HMDA data
A baseline evaluation of the variation in mortgage credit flows across different types of neighborhoods using HMDA data collected in 1990 and 1991.
Working Paper
Accounting for racial differences in housing credit markets
A documentation of racial and neighborhood differences in home mortgage denial rates using data collected under the Home Mortgage Disclosure Act, exploring the extent to which objective lending criteria are responsible for observed differences. The authors find persistent variations in denial rates between white and minority applicants, but emphasize that the HMDA data do not contain enough relevant information to draw any firm conclusions regarding causation.
Journal Article
Components of city-size wage differentials, 1973-1988
An exploration of why workers in large cities are more highly paid than their rural counterparts. The authors decompose city-size wage differentials into the portion due to worker traits and the portion due to intercity differences in wage structures and find that differences in worker-attribute prices account for most of the disparity.
Working Paper
Neighborhood information and home mortgage lending.
An examination of how information about a neighborhood affects the level of lending activity in it--specifically, whether lenders deny mortgage applications at higher rates in neighborhoods where they have little experience in evaluating applications and/or where the lending community in general lacks such experience.
Journal Article
Cross-lender variation in home mortgage lending
An evaluation of the feasibility of using Home Mortgage Disclosure Act (HMDA) data to form quantitative measures of fair lending for use in enforcement. The authors find that cross-lender differences in minority and low-income originations primarily reflect differences in application rates, not in approval rates, and that most of the variation in lender behavior cannot be attributed to variance in applicant characteristics reported in the HMDA data or to differences in the geographic markets served by the lenders.
Journal Article
Information dynamics and CRA strategy
A look at how the quantity and source of information flowing to lenders can affect their credit decisions, and an argument that lenders should take advantage of the CRA provisions that allow them to address their obligations through joint-lending programs and qualified investments.