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2 posts on "Discrimination"
June 1, 2023

What Drove Racial Disparities in the Paycheck Protection Program?

Decorative Image: Ethnic female shop owner handing over food order in brown shopping bags by ethnic customer in red and white baseball cap and green shirt.

Numerous studies of the Paycheck Protection Program (PPP), which provided loans to small businesses during the COVID-19 pandemic, have documented racial disparities in the program. Because publicly available PPP data only include information on approved loans, prior work has largely been unable to assess whether these disparities were driven by borrower application behavior or by lender approval decisions. In this post, which is based on a related Staff Report and NBER working paper, we use the Federal Reserve’s 2020 Small Business Credit Survey to examine PPP application behavior and approval decisions and to study the strengths and limitations of fintech lenders in enhancing access to credit for Black-owned businesses.

Posted at 7:00 am in Credit, Inequality | Permalink | Comments (2)
August 3, 2016

The Reluctance of Firms to Interview the Long-Term Unemployed

Estimates from the Current Population Survey show that the probability of finding a job declines the longer one is unemployed.

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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