Arbeitspapier
Stakeholders' aversion to inequality and bank lending to minorities
We find that banks differ in their propensity to lend to minorities based on their stakeholders' aversion to inequality. Using mortgage application data collected under the Home Mortgage Disclosure Act, we document a large and persistent cross-sectional variation in banks' propensity to lend to minorities. Inequality-averse banks have a higher propensity to lend to borrowers in high-minority areas and, within census tracts, to non-white borrowers compared to other banks. This higher propensity (i) is not explained by selection of applicants, (ii) allows these banks to retain and attract their inequality-averse stakeholders, and (iii) does not predict worse ex-post loan performance.
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 1079
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
Money Supply; Credit; Money Multipliers
- Thema
-
inequality aversion
mortgage lending
minority borrowers
racial discrimination
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Crosignani, Matteo
Le, Hanh
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2023
- DOI
-
doi:10.59576/sr.1079
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Crosignani, Matteo
- Le, Hanh
- Federal Reserve Bank of New York
Entstanden
- 2023
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