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…
W04-10: Differences in the supply of housing generate substantial variation in housing prices across the United States. Because housing prices influence migration, the…
BABC 04-3: Recently there has been a surge of interest in the market potential for mainstream financial service firms to serve unbanked and marginally banked consumers.…