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…
W00-2: The Mexican mortgage market experienced significant turbulence in the 1990s allowing a newly created financial intermediary, the Sociedades Financieras de Objeto…
W00-3: The Mexican government has struggled to curtail growth of bad bank loans since the currency devaluation of December1994. This paper examines borrower choice to…