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…
HBTL-05: This paper discusses links among three familiar developments in US housing markets over the last quarter century: ongoing “sprawl” of housing units away from…
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…