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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…

RR07-4: We investigate theoretically and empirically two interrelated potential consequences of the spatial concentration of poverty: negative externalities to proximate…

UCC08-6: This paper has two parts. First, we look at the various agents involved in the mortgage transaction—including borrowers, brokers, originators, rating agencies…