Meanwhile, loans with features that may have been appropriate for a small subset of potential borrowers – such as interest-only mortgage loans or loans requiring little or no documentation of income – were offered to a wider group of consumers. Studies have shown that if borrower income is held constant, loan features do matter to the successful repayment of a loan.
Concluding remarks Productivity is a central subject for researchers and policy makers, as it bears on the core issues of the potential for sustained economic improvement.