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…
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…
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…