Advantages And Disadvantages Of Leasing Or Lease Finance Over Purchase Of Asset.
That is the query asked by John Cochrane in this recent draft essay ( non-PDF version here ), in response to a recent Journal of Financial Perspectives article by Robin Greenwood and David Scharfstein. Both need to be essential reading for any introductory finance class. There is so a lot in these essays that one weblog post could not hope to adequately cover the topic, so do not anticipate this to be something resembling a full response.
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