Public policy concerns increasingly have focused on subprime lending. Our research uses a survey of prime and subprime borrowers to address whether borrowers "inappropriately" are channeled to the subprime segment, if once having taken out a subprime mortgage borrowers are "stuck" in this market...

We examine the effect of sample design on estimation and inference for disparate treatment in binary logistic models used to assess for fair lending. Our Monte Carlo experiments provide information on how sample design affects efficiency (in terms of mean squared error) of estimation of the...

This paper offers a novel explanation for urban blight and endogenous divergence in the overall quality and wealth of neighborhoods and simultaneously derives the salient features of actual urban renewal and other aid programs from optimizing government behavior based on collective public...

A key function of capital regulation is to mitigate the potential for systemic financial risk by maintaining public confidence in the ability of regulated market participants to honor their financial obligations in times of market stress. While it is well known that the portfolios of banks and...