Search Results
Journal Article
The emerging service economy
A description and examination of the expanding service economy, with the contention that its growth reflects a natural and inevitable response to rising wealth.
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.
Journal Article
Home mortgage lending by the numbers
A look at some of the issues associated with reports that minority applicants for home mortgage loans are far more likely than whites to be denied credit. The authors raise the concern that simple comparisons of denial rates are not sufficient for grasping the complexities surrounding community-oriented lending.
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.
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.
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.
Working Paper
Amenities and the returns to human capital
A demonstration that regional differences in the returns to human capital do not necessarily imply structural differences in regional labor markets, but could be reflecting compensation for regional differences in amenities.
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.
Working Paper
Patterns and determinants of inefficiency in state manufacturing
A study of whether states differ in terms of technical inefficiency in their manufacturing sectors.
Working Paper
Lender consistency in housing credit markets
An examination of how and why individual financial institutions vary in their propensity to attract and approve mortgage applications from minorities, using Home Mortgage Disclosure Act data.