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…
RR07-10: In recent years, housing has all but disappeared from national-level debate except for occasional discussions of a possible housing “bubble” and the all-too-…