This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances linked to credit scores in seven major US markets in the recent housing boom and bust. Among those with similar credit scores and loan attributes, black and Hispanic homeowners...

Asset prices plunged between 2007 and 2010 but then rebounded from 2010 to 2013. The most telling finding is that median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of net worth, after almost two decades of little movement, was...

This paper reviews the literature on affirmative action in undergraduate education and law schools, focusing in particular on the tradeoff between the quality of an institution and the fit between a school and a student. We first discuss the conditions under which affirmative action for...

Although both economists and psychometricians typically treat them as interval scales, test scores are reported using ordinal scales. Using the Early Childhood Longitudinal Study and the Children of the National Longitudinal Survey, we examine the effect of order-preserving scale transformations...

The United States has a long and ongoing history of racial inequality. This paper surveys the literature on one aspect of that history: long-run trends in racial differences in health. We focus on standard measures such as infant mortality and life expectancy but also consider the available data...

College admissions officers face a rapidly changing policy environment where court decisions have limited the use of affirmative action. At the same time, there is mounting evidence that commonly used signals of college readiness, such as the SAT/ACTs, are subject to race and socioeconomic bias....

The Voting Rights Act of 1965 (VRA) has been called one of the most effective pieces of civil rights legislation in U.S. history, having generated dramatic increases in black voter registration across the South. We show that the expansion of black voting rights in some southern states brought...

This paper investigates the long-run impacts of court-ordered school desegregation on an array of adult socioeconomic and health outcomes. The study analyzes the life trajectories of children born between 1945 and 1970, and followed through 2011, using the Panel Study of Income Dynamics (PSID)....

I find that median wealth plummeted over the years 2007 to 2010, and by 2010 was at its lowest level since 1969. The inequality of net worth, after almost two decades of little movement, was up sharply from 2007 to 2010. Relative indebtedness continued to expand from 2007 to 2010, particularly...

The SEED schools, which combine a "No Excuses'' charter model with a five-day-a-week boarding program, are America's only urban public boarding schools for the poor. We provide the first causal estimate of the impact of attending SEED schools on academic achievement, with the goal of...