The researchers suggest a "small but significant" negativeeffect of 4% linked to the combined effects of smoking and impaired lung function - itself linked to smoking.
Throughout every permutation that I ran, the tuition variable had a statistically significant and negativeeffect on partying, meaning that as students pay more in tuition, they are less apt to go out and party.
But certainly the level of the local government, local municipalities, local agencies and so on, you could see a significant increase in those default rates will have a negativeeffect on muni bonds and on spreads on them, as well.