Self-selection and discrimination in credit markets

Real Estate Economics

Volumn 33, Issue 2, 2005, Pages 237-268

  Longhofer, Stanley D ^a   Peters, Stephen R ^b  

^a WICHITA STATE UNIVERSITY   (United States)

^b KANSAS STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 20744454741     PISSN: 10808620     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1540-6229.2005.00118.x     Document Type: Review

References (44)

1. Arrow, K.J. 1972a. Models of Job Discrimination. A.H. Pascal, editor. Racial Discrimination in Economic Life. Lexington Books: Lexington, MA. pp. 83-102.
2. _. 1972b. Some Mathematical Models of Race Discrimination in the Labor Market. A.H. Pascal, editor. Racial Discrimination in Economic Life. Lexington Books: Lexington, MA. pp. 187-203.
3. _. 1973. The Theory of Discrimination. O. Ashenfelter and A. Rees, editors. Discrimination in Labor Markets. Princeton University Press: Princeton, NJ. pp. 3-42.
4. Avery, R.B., P.E. Beeson and M.S. Sinderman. 1994. Cross-Lender Variation in Home Mortgage Lending. Economic Review 30(4): 15-29.
5. _. 1996. Posted Rates and Mortgage Lending Activity. Journal of Real Estate Finance and Economics 13(1): 11-26.
6. _. 1998. Neighborhood, Race and the Mortgage Market: Evidence from HMDA Data. Unpublished manuscript. Federal Reserve Bank, Cleveland, OH.
7. Becker, G.S. 1971. The Economics of Discrimination, 2nd edition. University of Chicago Press: Chicago.
8. _. 1993. Nobel Lecture: The Economic Way of Looking at Behavior. Journal of Political Economy 101(3): 385-409.
9. Ben-Shahar, D. and D. Feldman. 2003. Signaling-Screening Equilibrium in the Mortgage Market. Journal of Real Estate Finance and Economics 26(2/3): 157-178.
10. Benjamin, J.D., A.J. Heuson and C.F. Sirmans. 1995. The Effect of Origination Strategies on the Pricing of Fixed-Rate Mortgage Loans. Journal of Housing Research 6: 137-148.
11. Berkovec, J.A., G.B. Canner, S.A. Gabriel and T.H. Hannan. 1994. Race, Redlining, and Residential Mortgage Loan Performance. Journal of Real Estate Finance and Economics 9(3): 263-294.
12. Black, H.A., T.P. Boehm and R.P. DeGennaro. 2003. Is There Discrimination in Mortgage Pricing? The Case of Overages. Journal of Banking and Finance 27(6): 1139-1165.
13. Black, H.A., M.C. Collins and K.B. Cyree. 1997. Do Black-Owned Banks Discriminate Against Black Borrowers? Journal of Financial Services Research 11(1/2): 189-204.
14. Black, H.A., B.L. Robinson and R.L. Schweitzer. 2001. Comparing Lending Decisions of Minority-Owned and White-Owned Banks: Is There Discrimination in Mortgage Lending? Review of Financial Studies 10(1): 23-39.
15. Bostic, R.W. 1996. The Role of Race in Mortgage Lending: Revisiting the Boston Fed Study. Unpublished manuscript. Board of Governors of the Federal Reserve System: Washington, DC.
16. _. 2003. A Test of Cultural Affinity in Home Mortgage Lending. Journal of Financial Services Research 23(2): 89-112.
17. Bostic, R.W. and G.B. Canner. 1998. Cultural Affinity Mechanisms and Variation in Mortgage Lending. Unpublished manuscript. Board of Governors of the Federal Reserve System: Washington, DC.
18. Calem, P. and M. Stutzer. 1995. The Simple Analytics of Observed Discrimination in Credit Markets. Journal of Financial Intermediation 4(3): 189-212.
19. Calomiris, C.W., C.M. Kahn and S.D. Longhofer. 1994. Housing-Finance Intervention and Private Incentives: Helping Minorities and the Poor. Journal of Money, Credit, and Banking 26(3): 634-674.
20. Cornell, B. and I. Welch. 1996. Culture, Information, and Screening Discrimination. Journal of Political Economy 104(3): 542-571.
21. Day, T. and S.J. Leibowitz. 1998. Mortgage Lending to Minorities: Where's the Bias. Economic Inquiry 34: 3-28.
22. Duca, J.V. and S.S. Rosenthal. 1994. Do Mortgage Rates Vary Based on Household Default Characteristics? Evidence on Rate Sorting and Credit Rationing. Journal of Real Estate Finance and Economics 8: 99-113.
23. Ferguson, M.F. and S.R. Peters. 1995. What Constitutes Evidence of Discrimination in Lending. Journal of Finance 50(2): 739-748.
24. _. 1997. Cultural Affinity and Lending Discrimination: The Impact of Underwriting Errors and Credit Risk Distribution on Applicant Denial Rates. Journal of Financial Services Research 11(1/2): 153-168.
25. _. 2000. Is Lending Discrimination Always Costly? Journal of Real Estate Finance and Economics 21(1): 23-44.
26. Gan, J. and T.J. Riddiough. 2003. Piercing (and then Papering Over) the Veil of Ignorance: GSE Monopoly and Informational Advantage in the Market for Residential Mortgages. Unpublished manuscript. University of Wisconsin-Madison.
27. Han, S. 1998. Credit Risk, Discrimination, and Regulation in Credit Markets. Ph.D. Dissertation. University of Chicago.
28. _. 2004. Discrimination in Lending: Theory and Evidence. Journal of Real Estate Finance and Economics 29(1): 5-46.
29. Horne, D.K. 1994. Evaluating the Role of Race in Mortgage Lending. FDIC Banking Review 7(1): 1-15.
30. _. 1997. Mortgage Lending, Race, and Model Specification. Journal of Financial Services Research 11(1/2): 43-68.
31. Hunter, W.C. and M.B. Walker. 1996. The Cultural Gap Hypothesis and Mortgage Lending Decisions. Journal of Real Estate Finance and Economics 13(1): 57-70.
32. Longhofer, S.D. 1996. Cultural Affinity and Mortgage Discrimination. Economic Review 32(3): 12-24.
33. Longhofer, S.D. and S.R. Peters. 1998. Beneath the Rhetoric: Clarifying the Debate on Mortgage Lending Discrimination. Economic Review 34(4): 2-19.
34. Munnell, A.H., L.E. Browne, J. McEneaney and G.M.B. Tootell. 1992. Mortgage Lending in Boston: Interpreting HMDA Data. Working paper no. 92-7. Federal Reserve Bank of Boston.
35. Munnell, A.H., G.M.B. Tootell, L.E. Browne and J. McEneaney. 1996. Mortgage Lending in Boston: Interpreting HMDA Data. American Economic Review 86(1): 25-53.
36. Phelps, E. 1972. The Statistical Theory of Racism and Sexism. American Economic Review 62(4): 659-661.
37. Rosenblatt, E. 1997. A Reconsideration of Discrimination in Mortgage Underwriting with Data from a National Mortgage Bank. Journal of Financial Services Research 11(1/2): 109-131.
38. Ross, S.L. 2000. Mortgage Lending, Sample Selection, and Default. Real Estate Economics 28(4): 581-621.
39. Ross, S.L. and J. Yinger. 2002. The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement. MIT Press: Cambridge, MA.
40. Rothschild, M. and J.E. Stiglitz. 1976. Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information. Quarterly Journal of Economics 90(4): 630-649.
41. Sirmans, C.F. and J.D. Benjamin. 1990. Pricing Fixed-Rate Mortgages: Some Empirical Evidence. Journal of Financial Services Research 4: 191-202.
42. Todd, S. 2001. The Effects of Securitization on Consumer Mortgage Costs. Real Estate Economics 29(1): 29-54.
43. Tootell, G.M.B. 1993. Defaults, Denials, and Discrimination in Mortgage Lending. New England Economic Review September/October: 45-51.
44. Yezer, A.M. J., R.F. Phillips and R.P. Trost. 1994. Bias in Estimates of Discrimination and Default in Mortgage Lending: The Effects of Simultaneity and Self-Selection. Journal of Real Estate Finance and Economics 9(3): 196-215.