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…
At the turn of the millennium, fully two-thirds of American households were owner-occupants. In addition, through the middle of the year in 2000, real home prices were rising…