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…
What is the microelasticity of mortgage demand to interest rates? Despite the importance of this parameter for models of monetary policy efficacy, little is known about the…
W00-7: The authors argue in this paper that the reengineering of failed inner city public housing projects that is underway is one of the most important and positive…