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Amazing study following a randomized group of people who got their student loans discharged. Consistent with the idea of serious liquidity and debt overhang, their overall defaults go down, they are more likely to move and change jobs. /1 (h/t @JWMason1) voxeu.org/article/effect… 
@JWMason1 Funny that it is randomized because servicing was so awful a judge tossed the debt out. Impossible for students to know who their servicer will be, and even expert court watchers wouldn't know how to call the case, so it really is as random as we'll ever see on forgiveness. /2
@JWMason1 We know there's serious life consequences correlated with student debt, but there's always a question of causation. Maybe people who don't want to marry, move out of their parents' house, have kids, or start businesses load up on debt, rather than the other way around? /3
@JWMason1 This gives us a pretty clear direction on the economic side. If you are worried about geographic mobility and "labor market dynamism," forgiving student debt needs to be on your agenda or you aren't serious. /fin
