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…
MF10-5: The U.S. mortgage finance system has gone from the envy of the world to a case study of failure in 2 short years. As recently as the 2003-2005 period the system…
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…