The volatility of the business cycle and an extreme shortage of housing were the twin problems of American economic life in the years following the First World War. Under the…
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…
Alexander von Hoffman, Eric Belsky, James DeNormandie, Rachel G. Bratt
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June 1, 2004
W04-5: This paper was prepared to provide background information for a conference sponsored by the Neighborhood Reinvestment Corporation entitled The Vitality of America…