| 主讲人简介： | Dr. Qi Li is an Assistant Professor at Penn State University, currently visiting the City University of Hong Kong. Her research spans the fields of search and matching theory, population economics, and real estate economics. Her research work has been published on Journal of Economic Theory, Quantitative Economics, etc. |
| 简介： | We compile a new database of quarterly race-specific home purchases, sales, and home price appreciation for 136 U.S. cities from 1993 to 2017. We study the dynamics of local housing and labor market conditions among Black, Hispanic, and White households, and the effects of monetary policy. We find that after contractionary monetary policy, Black and Hispanic households experience a larger decrease in net home purchases and home price appreciation compared to White households. These disparities may result from less favorable labor market responses to contractionary policy among Black and Hispanic groups. Residential segregation by race further worsens the disparities in home price appreciation following monetary tightening. The findings highlight the unintended effects of monetary policy on racial housing inequality. |