type="main" <p>We develop a micro-based macromodel for residential home prices in an economy where defaults on residential mortgages negatively affect housing prices. Our model enables us to study the impact of subprime defaults on prime borrowers and the impact of various government policies on...</p>

This paper estimates the price for restructuring risk in the US corporate bond market during 1999-2005. Comparing quotes from default swap (CDS) contracts with a restructuring event and without, we find that the average premium for restructuring risk represents 6%-8% of the swap rate without...

The purpose of this paper is twofold. First, we review the market manipulation literature in the context of corporate finance and study its implications for financial management. Second, we provide a new perspective on corporate finance theory, viewing the corporation as a "manipulator" of its...