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Loan Performance and Race

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  • Martin, Robert E
  • Hill, R Carter
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    Abstract

    Recent studies find evidence of racial discrimination in mortgage markets. Although these studies explore loan approval rates for whites versus minorities, they do not specifically consider loan performance, either in the form of default rates or loan administration costs. This study considers discrimination in the used car credit market, where the collateral is not subject to location externalities, collateral value and quality do not vary as much as in real estate, and the loan terms are shorter. We find administration costs and default rates are higher for minorities than for whites, controlling for age, income, home ownership, wealth, occupation, loan terms, and geographic location. Copyright 2000 by Oxford University Press.

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    Bibliographic Info

    Article provided by Western Economic Association International in its journal Economic Inquiry.

    Volume (Year): 38 (2000)
    Issue (Month): 1 (January)
    Pages: 136-50

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    Handle: RePEc:oup:ecinqu:v:38:y:2000:i:1:p:136-50

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    Cited by:
    1. Song Han, 2002. "On the economics of discrimination in credit markets," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2002-2, Board of Governors of the Federal Reserve System (U.S.).
    2. Wendy Edelberg, 2007. "Racial dispersion in consumer credit interest rates," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2007-28, Board of Governors of the Federal Reserve System (U.S.).
    3. Song Han, 2011. "Creditor Learning and Discrimination in Lending," Journal of Financial Services Research, Springer, vol. 40(1), pages 1-27, October.

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