Professors Back Government Aid To New York City

Federal aid to New York City is imperative because a default on New York's debts would seriously damage national economic recovery, Otto Eckstein, Warburg Professor of Economics, said Thursday in testimony before the House Budget Committee.

Eckstein said his predictions were based on the preliminary results of an econometric study conducted by his economic consulting firm, Data Resourses Incorporated.

The study predicts default would force 6