Measuring the effects of Obergefell v. Hodges : Revisiting same‐sex marriage legalization and mortgage demand
中文摘要
美国最高法院2015年在Obergefell v. Hodges案中的裁决使同性婚姻在所有州合法化。我们估计了这一里程碑式裁决对同性伴侣抵押贷款需求的影响。利用几乎涵盖全部抵押贷款申请的数据,我们采用双重差分估计策略,比较裁决前后同性伴侣与异性伴侣的抵押贷款需求。我们发现,在先前不允许同性婚姻的州,该裁决使同性伴侣相对于异性伴侣的抵押贷款需求提高了12%。有趣的是,我们还估计出,在裁决前已将同性婚姻合法化的州,同性伴侣的抵押贷款需求提高了15%。这表明,联邦最高法院的裁决为同性伴侣带来了更大的确定性,即便是在同性婚姻已经合法的州。此外,我们发现,女同性伴侣所受影响显著大于男同性伴侣,这与此前关于同性关系中女性结婚率更高的文献相一致。我们的结果强调,在塑造弱势群体的结果方面,联邦最高法院裁决的重要性超越了类似的州级立法。
Abstract
Abstract The U.S. Supreme Court's 2015 ruling in Obergefell v. Hodges made same‐sex marriage legal in all states. We estimate the effect of this landmark ruling on the mortgage demand of same‐sex couples. Using data on the near universe of mortgage applications, we employ a difference‐in‐differences estimation strategy that compares the mortgage demand from same‐sex and different‐sex couples, before and after the ruling. We find that the ruling increased the mortgage demand from same‐sex couples relative to different‐sex couples by 12% in states where same‐sex marriage was previously unavailable. Interestingly, we also estimate a 15% increase in the mortgage demand of same‐sex couples in states that had already legalized same‐sex marriage prior to the ruling. This suggests that the federal Supreme Court ruling brought greater certainty to same‐sex couples, even in states where same‐sex marriage was already legal. Additionally, we find that the effects were significantly larger for same‐sex female couples compared to same‐sex male couples, consistent with prior literature documenting higher marriage take‐up among women in same‐sex relationships. Our results emphasize the importance of federal Supreme Court rulings over and above similar state‐level legislation in shaping outcomes of vulnerable populations.