This study identifies and measures the demonstrable changes to local political economies that can be reasonably attributed to HOPE VI redevelopments. It examines the extent to which the developments have contributed to increases in surrounding property values, decreases in serious crimes,...

<title>Abstract</title> Neighborhoods surrounding large public housing developments have historically been economically distressed. The revitalization of many developments through the federal HOPE VI program, in conjunction with increased inner‐city lending and a strong economy for much of the 1990s, should...

We examine the cross-sectional relation between leverage and future returns while considering the dynamic nature of capital structure and potentially delayed market reactions. Prior studies find a negative relation between leverage and future returns that contradicts standard finance theory. We...

In November 1999, the U.S. Congress asked the Board of Governors of the Federal Reserve System to conduct a comprehensive study of loans made under the Community Reinvestment Act of 1977. The Board’s study focused on the loans’ delinquency and default rates—their performance—as well as...