Abstracts for Vol.
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We find no evidence to suggest long co-memories between stock and property markets in the United States and the United Kingdom, but some evidence of this in Australia. We estimate a mortgage default model with national data on conventional mortgages that were current from 1986 to 1992. Further, we do not find that Black borrowers have significantly more home equity. These results do not provide evidence of racial discrimination in mortgage lending and suggest that differences in default costs or transaction costs may explain differences in default rates. Discount to Net Asset Value in Listed Property Companies in the U.K .