Lenders and the federal government apparently learned a lesson from the financial crisis of 2008–09. As a result, the financial pain of the pandemic has been much gentler than it otherwise might have been. So says a just-released paper from researchers at the business schools of Columbia University, Northwestern University, Stanford University, and the University of Southern California.
Mentioned Faculty
Tomasz Piskorski
Tomasz Piskorski is the Edward S. Gordon Professor of Real Estate in the Finance Division at Columbia Business School. He is also a Research Associate at the National Bureau of Economic Research and serves on the Academic Research Council of the Housing Finance Policy Center at the Urban Institute. Professor Piskorski earned a M.S. in Mathematics from New York University Courant Institute of Mathematical Sciences and a Ph.D. in Economics from New York University Stern School of Business.