The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair‐Lending Enforcement
本书全面综述了美国基于种族的抵押贷款歧视学术文献，由两位专家撰写，涵盖市场概况、法律框架、歧视模型及检测方法，适合政策制定者和研究者参考。
This book is an extremely comprehensive discussion of the academic literature on race‐based mortgage discrimination in the United States, written by two acknowledged experts in the field. Yinger is well known for directing several audit studies in which carefully‐matched ‘testers’ (of different races) inquire about either buying or renting a particular advertised property. And Ross has written extensively on the use of default data in testing for discrimination. Mortgage discrimination was a hot‐button issue – both in terms of policy as well as research – in the late 1990s and, even today, elicits considerable interest and controversy. Unfortunately, as is the case for most hot‐button issues, the debate is rather polarised, and it is important to keep this in mind when reading the book. The authors begin by providing an overview of the US mortgage market and some recent trends in this market, as well as the legal framework governing mortgage discrimination. They also discuss the various stages of mortgage lending and develop a model to show how discrimination might enter into this process and how one might test for its presence. This is a key section of the book, and I found the discussion a bit disorganised, in part because of the lengths to which the authors go to be as comprehensive as possible. The reader should also be aware that another important set of models – those linking mortgage performance and discrimination – may be found in a later chapter.