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…
UCC08-15: We find that the foreclosure process varies widely across states and that the costs associated with foreclosure rise significantly with the length of the…
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…