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…
What is the microelasticity of mortgage demand to interest rates? Despite the importance of this parameter for models of monetary policy efficacy, little is known about the…
W00-4: This is a case study of Suzhou, China, an ancient city of over two thousand years that upgraded itself during the 1990s from a medium-sized city to fifth in China…