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…
UCC08-11: Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is…
RR07-9: This paper considers what the appropriate design of government policies towards rental housing subsidies would be in the absence of the long and mixed legacy of…