This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
UCC08-13: In this paper, we review a wide variety of programs that are used to support savings by families, in particular by low- and moderate-income families. These…
W01-10: The multifamily mortgage market has changed dramatically over the last two decades. The relative importance of the thrifts—once the major source of financing for…