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Working Paper
Measuring Fairness in the U.S. Mortgage Market
Black Americans are both substantially more likely to have their mortgage application rejected and substantially more likely to default on their mortgages than White Americans. We take these stark inequalities as a starting point to ask the question: How fair or unfair is the U.S. mortgage market? We show that the answer to this question crucially depends on the definition of fairness. We consider six competing and widely used definitions of fairness and find that they lead to markedly different conclusions. We then combine these six definitions into a series of stylized facts that offer a ...
Working Paper
School Closures, Parental Labor Supply, and Time Use
This paper re-examines the response of parental labor supply to the pandemic-era suspension of in-person instruction. The effect of school closures is undetectable after controlling comprehensively for unobserved heterogeneity. Even excluding such controls, a shift from fully virtual to in-person implies an increase in weekly hours worked of just 2 to 2.5. These estimates are used to inform a simple model of the household in which access to telework and nonparental care mitigate the labor supply impact of school closures. Time use data suggest telework and nonparental care indeed helped some ...