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…
HBTL-05: This paper discusses links among three familiar developments in US housing markets over the last quarter century: ongoing “sprawl” of housing units away from…
MF10-4: There are three moving forces that are central to understanding the role of government sponsored institutions in the mortgage market. Understanding these forces…