An Indirect Test for Differential Treatment of Borrowers in Mortgage Markets
基于歧视经济学理论，通过检验借款人是否因年龄、种族、性别或房产位置而集中在FHA保险部门，间接判断抵押贷款市场中是否存在差别待遇。估计结果显示，除年轻借款人外，未发现其他因素的差别待遇证据。
The indirect test implemented in this paper is based on the economics of discrimination which hypothesizes that differential treatment of borrowers, on the basis of age, race, sex, or property location, at any stage of the mortgage transaction, including prescreening, results in segregation of those getting less favorable treatment. Borrowers who perceive that they are receiving less favorable treatment based on age, race, sex, or property location would be segregated into the FHA‐in‐sured sector. Estimates of an FHA participation equation show no evidence of such segregation by sex, race, or center city property location. Younger borrowers do appear to be differentially concentrated in the FHA programs.