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…
Parag Pathak, John Campbell, Stefano Giglio
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May 1, 2009
W09-4: This paper uses data on house transactions in the state of Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to…
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…