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Identifying the Most Financially Vulnerable Families
Households with less than two months’ income in liquid assets and those with high debt-to-income ratios face the greatest risk of serious delinquency.
Which Families Are Most Vulnerable to an Income Shock? A Look at Race and Ethnicity
While liquid assets, education and other factors are associated with how economically resilient families may be during a crisis, race and ethnicity are also related.
Working Paper
"Let Us Put Our Moneys Together": Minority-Owned Banks and Resilience to Crises
Minority-owned banks have a mission to promote economic well-being in their communities. In particular, specialization in lending based on a central mechanism of shared-minority identity can yield an advantage in serving community needs through times of financial and economic crises. To test this proposition, we analyze individual banks in their local market context from 2006 to 2020. Results suggest minority-owned banks improve economic resilience in their communities during the global financial crisis (GFC) and the COVID-19 crisis through increased small business and household lending, but ...