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…
Zhu Xiao Di, Yi Yang, Xiaodong Liu
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November 30, 2003
W03-5: Housing is the cornerstone of household wealth, especially for low-income households. With the growth in the U.S. homeownership rate, housing wealth is important…