Holdup by Junior Claimholders: Evidence from the Mortgage Market
NBER Working Paper No. 20015
---- Acknowledgements ----
Previously circulated as "Second Liens and the Holdup Problem in Mortgage Renegotiation." The authors would like to thank Fredrik Andersson, Gadi Barlevy, Ted Durant, Ronel Elul, Karen Furst, Dennis Glennon, Bruce Krueger, Mark Levonian, Amit Seru, and seminar participants at the OCC, FIRS, and AREUEA (Chicago) for helpful comments and suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research, the Federal Reserve System, the Federal Reserve Bank of Chicago, or the Office of the Comptroller of the Currency.