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…
W08-4: By looking beyond the financial characteristics of borrowers, this research brings to light the social factors that influence a borrower’s choice of a lender and…
W04-13: Over the past 50 years, housing expenditures have accounted for more than one fifth of the nation’s gross domestic product. But housing’s influence on the…