Does marriage equality promote credit access? Evidence from same-sex marriage laws
研究发现美国同性婚姻合法化后，同性伴侣的抵押贷款申请被拒率相对于异性伴侣上升，而较少依赖人工的金融科技贷款机构未出现此变化，表明信息摩擦是重要原因。
We show that following the legalization of same-sex marriage across US states, mortgage applications from same-sex borrowers are more likely to be denied relative to a matched sample of different-sex borrowers. Our findings are robust to using a stacked regression design and several approaches to account for compositional changes in the pool of mortgage applicants around same-sex legalization. FinTech lenders, which rely less on human loan officers, experience no change in the denial gap. Our results highlight information frictions between loan officers and same-sex borrowers as one channel for the increased denial gap between same-sex and different-sex applications.