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Full-Text Articles in Social and Behavioral Sciences
Credit Access, The Costs Of Credit And Credit Market Discrimination, Christian E. Weller
Credit Access, The Costs Of Credit And Credit Market Discrimination, Christian E. Weller
Christian Weller
Since the early 1990s, credit expanded relative to income, especially after 2001. It is hypothesized that traditionally uneven credit access and gaps in the costs of credit by demographic characteristics shrank during this period. Relying on data from the Federal Reserve’s Survey of Consumer Finance, this study looks at financial constraints, the costs of credit and a number of contributions to the costs of credit, including sources and types of loans. The results indicate that taste-based discrimination and structural discrimination may have persisted and possibly increased over time. Gaps in credit access and costs of credit have widened by race, …
Have Differences In Credit Access Diminished In An Era Of Financial Market Deregulation?, Christian E. Weller
Have Differences In Credit Access Diminished In An Era Of Financial Market Deregulation?, Christian E. Weller
Christian Weller
Over the past few decades, financial markets became increasingly deregulated and household debt expanded, sometimes rapidly. It is thus possible that greater deregulation led to improved credit access for typically underserved groups, such as minorities and low-income families, relative to their counterparts. Credit access is measured here by loan denials, discouraged applications, and costs of credit. Based on data from the Federal Reserve’s Survey Consumer Finances and using multivariate tests, there is no clear trend, though, towards equalization of credit access from 1989 to 2004. Specifically, gaps in loan denials and discouraged applications only improved for Hispanics relative to Whites. …