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…
MF10-13: Because of the severity of the current economic recession, the near-collapse of the United State’s financial system in the fall of 2008, and the central role…
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…