Econ Papers Daily / 期刊论文
政治声音与（抵押贷款）市场参与：来自《选举权法》稀释的证据
Political Voice and (Mortgage) Market Participation: Evidence from the dilution of Voting Rights Act
摘要
Using US Supreme Court’s narrow-decision on Shelby v. Holder as a shock that diluted voting rights of Black Americans in covered counties, we document the relationship between political voice and economic decision-making. We show fewer Black Americans buy homes after their de-facto disenfranchisement, reflected through lower mortgage applications. Among those who apply for mortgages, there is a flight to Black lenders. Leveraging individual-level survey data, we show confidence in government and financial institutions plays a significant role in driving these effects. Our findings demonstrate that the effects of disenfranchisement extend beyond the ballot box to fundamental economic decisions like homeownership.
中文摘要
以美国最高法院在谢尔比诉霍尔德案中的窄幅裁决作为冲击事件，该裁决削弱了受覆盖县黑人美国人的投票权，我们记录了政治发声与经济决策之间的关系。我们表明，在事实上的剥夺选举权之后，购房的黑人美国人减少，这通过抵押贷款申请量下降得以体现。在申请抵押贷款的人群中，出现了向黑人贷款机构的转移。利用个体层面的调查数据，我们表明对政府和金融机构的信心在驱动这些效应中发挥重要作用。我们的发现表明，剥夺选举权的影响超越投票箱，延伸至像住房所有权这样的基本经济决策。