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…
W04-13: Over the past 50 years, housing expenditures have accounted for more than one fifth of the nation’s gross domestic product. But housing’s influence on 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…