The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown
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Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 bankruptcy before the Supreme Court disallowed this practice in 1993. We exploit the random assignment of cases to judges to quantify the ex-post effects of Chapter 13 bankruptcy over the
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美国国家经济研究局创建时间：
2021-06-01
