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…
W13-7: What is the incidence of housing vouchers? In a frictionless, price-taking equilibrium, increased generosity of a narrowly-targeted subsidy causes increases in…
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…