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…
W13-8: The recent housing bust precipitated a wave of mortgage defaults, with over seven percent of the owner-occupied housing stock experiencing a foreclosure.…
Robert Litan, Nicolas Retsinas, Eric Belsky, Susan White Haag
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April 20, 2000
In November 1999, President Clinton signed into law financial modernization legislation (referred to herein as the Financial Modernization Act (FMA)), perhaps the most…