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…
There are many causes to the collapse of the housing market and the recent financial turmoil, but the contribution of the CRA appears marginal. While banks did engage in…
BABC 04-3: Recently there has been a surge of interest in the market potential for mainstream financial service firms to serve unbanked and marginally banked consumers.…