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국회도서관 홈으로 정보검색 소장정보 검색

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Title page

Contents

Abstract 2

1. Introduction 3

2. The Ramp Model and the Linear Projection 6

3. When are the Linear Projection Parameters Identical to the APEs? 11

4. The NLS Estimator of the Ramp Model 16

5. Simulations 21

5.1. Symmetrically Distributed Explanatory Variables 23

5.2. Asymmetrically Distributed Explanatory Variables 26

5.3. Additional Simulations 28

6. Mortgage Approval Probabilities and Race 29

7. Implications for Empirical Research 32

References 33

Appendix 34

Tables

Table 1. No interaction, x₁ normal, x₂ sym. binary, u~U(-0.5,0.5) 24

Table 2. No interaction, x₁ normal, x₂ sym. binary, u~U(-0.25,0.25) 25

Table 3. No interaction, x₁ normal, x₂ sym. binary, u~U(-1,1) 25

Table 4. With interaction, x₁ normal, x₂ sym. binary, u~U(-0.5,0.5) 26

Table 5. With interaction, x₁ normal, x₂ sym. binary, u~U(-0.25,0.25) 26

Table 6. No interaction, x₁ asym., x₂ asym. binary, u~U(-0.25,0.25) 27

Table 7. No interaction, x₁ asym., x₂ asym. binary, u~U(-1,1) 27

Table 8. No interaction, x₁~U(-10,10), x₂ sym. binary, u~U(-1,1) 28

Table 9. Loan Approval Summary Statistics 30

Table 10. Estimates of the APE of "White" on Loan Approval 31

Table 11. No interaction, x₁ sym, x₂ sym. binary, u~N(0,1) 37

Table 12. With interaction, x₁ sym, x₂ sym. binary, u~N(0,1) 37

Table 13. No interaction, x₁ asym, x₂ asym. binary, u~N(0,1) 37

Figures

Figure 1. The Ramp Function 7

Figure 2. The CDF of y with u/x~U(-√3,√3) 13