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…
Shawn Cole, John Thompson, Peter Tufano
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February 1, 2008
UCC08-3: In this paper, we analyze the spending decisions of over 1.5 million Americans who vary in their degree of revealed credit constraints. Specifically, we analyze…
W01-10: The multifamily mortgage market has changed dramatically over the last two decades. The relative importance of the thrifts—once the major source of financing for…