Lecture 12 - PAM 3300 Discrimination in Mortgage...

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PAM 3300: Discrimination in Mortgage Lending: (cont)
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Thinking more broadly about the effects of discrimination in the housing market What do we make of the Munnell et al. evidence if the question is: “How does racial discrimination affect the opportunities of blacks and Hispanics to purchase homes in places they would like to live?” Discrimination at other stages of the process Yinger demonstrates that blacks (with similar characteristics as whites) are shown fewer houses and shown houses in less affluent neighborhoods in audit studies of realtors. Minorities are given less information when they inquire about loans before applying. What if racial discrimination in other arenas (schooling, the job market, etc.) affects ‘legitimate’ loan criteria e.g., affects educational achievement, labor income these variables are used to screen loan applicants controlling for these variables might understate the effects of broader discrimination (this is called ‘over-controlling’: I.e., controlling for other outcomes of discrimination that may influence the outcome of interest) Disparate treatment vs. disparate impact of equal treatment requiring a 20% down payment may differentially impact minorities due to lower asset accumulation is this a legitimate predictor of loan performance?
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PAM 3300: The Returns to Computer Use Krueger vs. DiNardo & Pischke
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