We examine the validity of a macroeconomic version of the ModiglianiMiller theorem. By this we understand that different equilibrium capital structures have no impact on the allocation of commodities and on welfare. We develop a general equilibrium model with two production sectors, riskaverse households, and financial intermediation by banks. Banks are funded by deposits and (outside) equity a...

DURING the past decade vascular malformations of the superior mediastinum have been the object of intense clinical interest. However, the occurrence of anomalies of the pulmonary artery as a cause of tracheobronchial obstruction has gone almost unrecognized. We previously reported 3 cases in which significant respiratory obstruction was produced by a left pulmonary artery coursing anomalously a...