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…
RR07-8: Nearly one-fifth of the rental housing stock is in smaller, multifamily apartment buildings with between 5 and 49 units. Even though relatively large shares of…
This paper analyses the performance of low-income and minority loans (LIMLs) from a large sample of fixed-rate mortgages purchased by Freddie Mac in the 1990s. Our focus is…