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…
RR07-9: This paper considers what the appropriate design of government policies towards rental housing subsidies would be in the absence of the long and mixed legacy of…
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…