๐”– Bobbio Scriptorium
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Asset substitution and the agencycosts of debt financing

โœ Scribed by Richard C. Green; Eli Talmor


Book ID
117528886
Publisher
Elsevier Science
Year
1986
Tongue
English
Weight
388 KB
Volume
10
Category
Article
ISSN
0378-4266

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## ABSTRACT In this paper, we estimate the impact of changes in fiscal policy regime on the yield curve. In particular, we differentiate between yield curve responses under __active__ and __passive__ fiscal policy regimes (according to the terminology of Leeper (1991)). Analyzing US data in the per