Cherry, Susan F.; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2021
. This large amount of debt relief significantly dampened the household debt distress, which can help explain household … likely to obtain debt relief. One third of borrowers in forbearance continued making full payments, suggesting that … eligibility under the CARES Act we estimate that implicit government debt relief subsidies increase the rate of forbearance by …