High delinquency rate of publicly provided mortgages in social housing programs are often interpreted to be due to moral hazard. In this paper we show that the typically used parametric approaches give misleading results due to overlooked confounding and selection biases. We show that by using...

Many public programs and operations by multilateral organisations include technical assistance to the direct beneficiaries of the program in addition to pure financing. However, there is no substantial body of studies that calculates the additional impact; in the sense of exclusively...

Durante la década de los noventa, los Fondos de Inversión Social fueron el mecanismo por excelencia para la entrega de obras sociales a poblaciones vulnerables en épocas de ajustes y crisis económicas. Desde entonces, los FIS se han convertido en instituciones con objetivos de más largo...

This paper evaluates Progressive Housing Program; a public housing program that facilitates the purchase of a new home. The evaluation finds that the program’s package (savings requirement, voucher and mortgage) design is inappropriate if the program is targeted to the poor. In fact the...