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…
W00-1: Once upon a time the location of towns and cities, at least superficially, seemed to be largely determined by the preferences of kings, princes, bishops, generals…
W98-7: Due to the financing mechanisms currently available, homeowners tend to have too much of their portfolios invested in their homes and institutional investors have…