This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W13-8: The recent housing bust precipitated a wave of mortgage defaults, with over seven percent of the owner-occupied housing stock experiencing a foreclosure.…
UCC08-2: In The End of Poverty, Jeffrey Sachs describes the poor as “… ready to act, both individually and collectively … hard working … [and having] a very…