Evidence on Discrimination in Mortgage Lending
解释了关于抵押贷款歧视的争议源于对歧视定义的理解混乱，基于法律定义和波士顿联储的研究，认为贷款机构确实存在歧视，并指出少数族裔违约率较高与模型中的种族系数解释无关。
Much of the controversy about whether mortgage lenders discriminate against minorities can be explained in terms of the confusion about how to define discrimination. Based on the legal definition, careful studies of loan denial rates, such as that done by the Federal Reserve Bank of Boston, represent an appropriate method for testing for discrimination by lenders. Based on that study, it is quite clear that lenders discriminate. The fact that minorities have higher default rates on average than whites is irrelevant to the interpretation of the race coefficient in such models. Nonetheless, more research on and discussion about the relationship between the race of the applicant and delinquencies, defaults, and losses would be desirable.