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…
At the turn of the millennium, fully two-thirds of American households were owner-occupants. In addition, through the middle of the year in 2000, real home prices were rising…