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…
It has long been argued that promoting homeownership among low-income households is worthwhile because owned housing may be an important source of savings for these families…