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…
W06-4: Metropolitan Boston, one of the nation’s largest urban areas, is in the midst of sweeping transformations. It is growing slowly in population but is sprawling…
BABC 04-23: Mortgage lenders have long used credit scores as a basis for estimating borrower risk. This risk differentiation is reflected in the coupon rate of the loan…