Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/272861 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Staff Report No. 1048
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
We study the impact of the Community Reinvestment Act (CRA) on access to consumer credit since 1999 using an individual-level panel and three distinct identification strategies: a regression discontinuity design centered on a CRA-eligibility cutoff; a comparison of neighboring census blocks; and an event study of changes in eligibility. All three rule out a significant effect of the CRA on consumer borrowing. We show that this is in part explained by a shift in mortgages from nonbanks, which are free from CRA obligations, to banks in need of CRA-eligible mortgages. Our findings underscore the pitfalls of a circumscribed regulatory regime.
Schlagwörter: 
Community Reinvestment Act
household finance
banks
JEL: 
G21
G28
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.81 MB





Publikationen in EconStor sind urheberrechtlich geschützt.