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…
The boom and bust in nonprime and nontraditional mortgage lending in the United States is without precedent. The factors that fueled the boom and the way it unfolded sowed…
MF10-10: The boom and bust in nonprime and nontraditional mortgage lending in the UnitedStates is without precedent. The factors that fueled the boom and the way it…
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-…