As more undergraduates have taken out loans to attend college, the number of borrowers who fail to repay their student loans has increased. While previous research has focused on students' likelihood to default, this study employed institutional cohort default rates (CDRs) as an outcome variable. Using Integrated Postsecondary Education Data…

This article presents an overview of major factors contributing to the Great Recession of 2007-2009. Descriptions of teaching resources and ideas for lesson plans are provided.

Toxic mortgages are one of the causes of the current economic crisis. Where did they come from--apart from those spectacularly down-at-heel areas of American cities where loans for housing are peddled on a day-rate basis? One driver was the demutualisation of building societies, on the basis that, as banks, they would have access to the capital…

The headlines of 2008 were dominated by falling housing prices, rising default and foreclosure rates, failure of large investment banks, and huge bailouts arranged by both the Federal Reserve and the U.S. Treasury. The wealth of many Americans has been substantially reduced and concern about a lengthy and severe recession is now widespread. All of…