Bank consolidations and minority neighborhoods

Article Abstract:

A study examined the relationship between minority composition in a neighborhood and the level of banking services in the community. This analysis differs from earlier work by controlling unobserved heterogeneity that might have led to a bias in other studies. Census tract-level data on banking services and neighborhood features in Alameda County, CA, from periods before and after the frenzy of bank mergers were used for the study. After a series of specification tests and robustness checks, findings revealed a significant negative relationship between minority composition and the level of banking services in the community. Minority areas, particularly black neighborhoods, tend to receive less banking services and are more likely to lose services during bank unions.

Commercial Banking, Research, Banking industry, Commercial banks, Services, Bank mergers, Minorities as consumers, Minority consumers

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Do states play welfare games?

Article Abstract:

Research reveals that states participate in welfare competition in the US. Results are based on state-level annual data from 1983-1994 in the US, including the District of Columbia; topics include evidence for simultaneous welfare benefit-setting and state response to neighbor benefit neglect.

United States, Statistical Data Included, Political aspects, Welfare, Public assistance, Interstate relations, Social work administration, Social services administration

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Portfolio choices for homeowners

Article Abstract:

Frictions associated with housing into standard life-cycle models can partially resolve the portfolio choice puzzle. A model in which a representative household endogenously transits from renting to mortgage-financed homeownership is proposed.

Europe, Investment Banking and Securities Dealing, Portfolio Management, Portfolio & Funds Management, Analysis, Home ownership

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