Is Discretionary Pricing Discretionary?: The Case of Overages in Mortgage Lending

The impact of the new wave of immigrants on labor market outcomes and economic welfare in the United States has received substantial attention, and so too has the problem of the incorporating immigrants into American society. This article explores the impact of immigration, suburbanization, and bank...

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Bibliographic Details
Published in:The Review of Black political economy 2004-04, Vol.31 (4), p.59-68
Main Authors: Black, Harold A., Boehm, Thomas P., DeGennaro, Ramon P.
Format: Article
Language:English
Subjects:
Banking
Finance
Immigrant adaptation
Immigration
Income
Loans
Mortgages
Noncitizens
Political economy
Prices
Suburbanization
Urban areas
Urbanization
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Summary:The impact of the new wave of immigrants on labor market outcomes and economic welfare in the United States has received substantial attention, and so too has the problem of the incorporating immigrants into American society. This article explores the impact of immigration, suburbanization, and bank financing on urban evolution. By building on two social models aimed at explaining racial segregation, the investigation is designed to facilitate the modeling of urban economic evolution in explicitly spatial approaches. At the core of the model is a link between agent income and spatially-rooted wealth accumulation. The model suggests that market-based suburbanization invariably undermines the cross-class solidarity of inner-city residents and that immigration will not, of itself, improve this dynamic. Indeed, incorporating immigration into this model's growth dynamic only delays or intensifies the tendency toward spatial polarization based on income. [PUBLICATION ABSTRACT]
ISSN:0034-6446
1936-4814
DOI:10.1007/s12114-004-1010-6