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Disaggregated Data as a Tool of Inclusion
anonymous (2020-12-17)
Rhonda Vonshay Sharpe, founder and president of the Women’s Institute for Science, Equity and Race, says disaggregating data leads to better policy and saves lives.
On the Economy

Journal Article
The Unequal Effect of Interest Rates by Race, Gender
Puig, Aina (2022-08-01)
Household spending typically falls as interest rates rise, but the responses vary by race and gender. Data show that households with mortgages headed by white women cut their spending on durable goods about a quarter percentage point in the three years following a 1 percentage point increase in interest rates. This is a much larger reduction than for households with mortgages headed by white men or Black men or women. The differences highlight the challenge of understanding how policy interest rate changes affect a diverse population.
FRBSF Economic Letter , Volume 2022 , Issue 19 , Pages 5

Discussion Paper
Inequality in U.S. Homeownership Rates by Race and Ethnicity
Haughwout, Andrew F.; Lee, Donghoon; Scally, Joelle; Van der Klaauw, Wilbert (2020-07-08)
Homeownership has historically been an important means for Americans to accumulate wealth—in fact, at more than $15 trillion, housing equity accounts for 16 percent of total U.S. household wealth. Consequently, the U.S. homeownership cycle has triggered large swings in Americans’ net worth over the past twenty-five years. However, the nature of those swings has varied significantly by race and ethnicity, with different demographic groups tracing distinct trajectories through the housing boom, the foreclosure crisis, and the subsequent recovery. Here, we look into the dynamics underlying ...
Liberty Street Economics , Paper 20200708a

Discussion Paper
Measuring Racial Disparities in Higher Education and Student Debt Outcomes
Chakrabarti, Rajashri; Nober, William; Van der Klaauw, Wilbert (2020-07-08)
Across the United States, the cost of all types of higher education has been rising faster than overall inflation for more than two decades. Despite rising costs, aggregate undergraduate enrollment rose steadily between 2000 and 2010 before leveling off and dipping slightly to its current level. Rising college costs have steadily increased dependence on student debt for college financing, with many students and parents turning to federal and private loans to pay for higher education. An earlier post in this series reported that borrowers in majority Black areas have higher student loan ...
Liberty Street Economics , Paper 20200708c

Working Paper
Mortgage Prepayment, Race, and Monetary Policy
Gerardi, Kristopher S.; Willen, Paul S.; Zhang, David Hao (2020-09-01)
This paper documents large differences in mortgage prepayment behavior across racial and ethnic groups in the United States, which have significant implications for monetary policy, inequality, and pricing. Using a novel data set that combines administrative data on mortgage performance with information on race and ethnicity, we show that Black and Hispanic white borrowers have significantly lower prepayment rates compared with Non-Hispanic white borrowers, holding income, credit score, and equity constant. This gap is on the order of 50 percent and largely reflects different sensitivities ...
Working Papers , Paper 20-7

Journal Article
Hit Harder, Recover Slower? Unequal Employment Effects of the COVID-19 Shock
Lee, Sang Yoon (Tim); Park, Minsung; Shin, Yongseok (2021-10-18)
The destructive economic impact of the COVID-19 pandemic was distributed unequally across the population. A worker's gender, race and ethnicity, age, education, industry, and occupation all mattered. We analyze the initial negative effect and its lingering effect through the recovery phase, across demographic and socioeconomic groups. The initial negative impact on employment was larger for women, minorities, the less educated, and the young whether or not we account for the industries and occupations they worked in. By February 2021, however, the differential effects across groups had gotten ...
Review , Volume 103 , Issue 4 , Pages 367-383

COVID-19 Disruptions by Race, Ethnicity and Geography: An Update
Gutkowski, Violeta A. (2022-07-21)
In 2021, low- to moderate-income (LMI) communities of color were still more likely to report disruptions than LMI communities that were primarily white.
On the Economy

Discussion Paper
Black and White Differences in the Labor Market Recovery from COVID-19
Karahan, Fatih; http://fedora:8080/fcrepo/rest/objects/authors/; Pilossoph, Laura (2021-02-09)
The ongoing COVID-19 pandemic and the various measures put in place to contain it caused a rapid deterioration in labor market conditions for many workers and plunged the nation into recession. The unemployment rate increased dramatically during the COVID recession, rising from 3.5 percent in February to 14.8 percent in April, accompanied by an almost three percentage point decline in labor force participation. While the subsequent labor market recovery in the aggregate has exceeded even some of the most optimistic scenarios put forth soon after this dramatic rise, the recovery has been ...
Liberty Street Economics , Paper 20210209c

Taking a Closer Look at Marital Status and the Earnings Gap
Vandenbroucke, Guillaume; Peake, Makenzie (2020-09-21)
Research suggests that married men’s higher income account for a significant portion of the U.S. gender earnings gap. Does this also hold when race is considered?
On the Economy

Discussion Paper
Racial and Ethnic Wealth Inequality in the Post-Pandemic Era
Chakrabarti, Rajashri; Emanuel, Natalia; Lahey, Benjamin (2024-02-07)
Wealth is unevenly distributed across racial and ethnic groups in the United States. In this first post in a two-part series on wealth inequality, we use the Distributional Financial Accounts (DFA) to document these disparities between Black, Hispanic, and white households from the first quarter of 2019 to the third quarter of 2023 for wealth and a variety of asset and liability categories. We find that these disparities have been exacerbated since the pandemic, likely due to rapid growth in the financial assets more often held by white individuals.
Liberty Street Economics , Paper 20240207a

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