Why do national trends in house prices spread more to some cities than to others? This paper proposes an explanation of house price contagion based on migration spillovers…
What is the microelasticity of mortgage demand to interest rates? Despite the importance of this parameter for models of monetary policy efficacy, little is known about the…
Roberto Quercia, Michael Stegman, Walter Davis, Eric Stein
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October 1, 2001
The 1977 Community Reinvestment Act (CRA) was enacted to encourage banking institutions to meet the credit needs of their entire communities. In response, lenders have…