US fair-lending law prohibits lenders from making credit determinations that disparately
affect minority borrowers if those determinations are based on characteristics unrelated to …

This paper aims at an improved understanding of the relationship between monetary policy
and racial inequality. We investigate the distributional effects of monetary policy in a unified …

This paper exploits strict flood insurance coverage limits and staggered flood map updates
to show that mortgage lenders offload flood risk to the government through flood insurance …

We assess racial discrimination in mortgage approvals using new data on mortgage
applications. Minority applicants tend to have significantly lower credit scores, higher …

Increasing the diversity of policy committees has taken center stage worldwide, but whether
and why diverse committees are more effective is still unclear. In a randomized control trial …

We show that lenders face more uncertainty when assessing default risk of historically under-
served groups in US credit markets and that this information disparity is a quantitatively …

We document the existence of a racial gap in realized housing returns that is an order of
magnitude larger than disparities arising from housing costs alone, and is driven almost …

Neighborhood peer effects have been shown to affect households publicly observable
decisions, but how they affect private decisions, like mortgage refinancing, remains unclear …

Real and private-value assets—defined here as the sum of real estate, infrastructure,
collectibles, and noncorporate business equity—compose an investment class worth an …

The COVID-19 pandemic exacerbated racial disparities in US mortgage markets. Black,
Hispanic, and Asian borrowers were significantly more likely than white borrowers to miss …