In this working paper, Paul Kupiec develops an algorithm to approximate the loss rate distribution for fixed income portfolios with obligor concentrations.

The central causes of the Savings and Loans debacle, according to this study, lay in the decision to substitute government regulation for the disciplines of the market.

In this volume, the author describes the changes in wages during the 1980s that led to increased rewards in schooling in the labor market.

This book recommends the creation of a new, alternative legal structure for collective investment, the "managed investment trust."

The current approach toward U.S. securities regulation by the Securities and Exchange Commission should be revamped by implementing a regime of competitive federalism.

This report examines the problem of access to credit for low- and moderate- income households. It notes that this problem has two dimensions. On the one hand, there are millions of consumers without access to mainstream sources of consumer credit. On the other hand, many of these same consumers...

We use credit reports, survey data, and two natural experiments that increase health insurance coverage—Medicare eligibility and the Affordable Care Act's Under 26 provision—to study the financial protection provided by health insurance.