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Optimality of coupon-bearing debt under asymmetric information

✍ Scribed by Sankar De; Jayant R. Kale


Book ID
116100986
Publisher
Elsevier Science
Year
1990
Tongue
English
Weight
366 KB
Volume
34
Category
Article
ISSN
0165-1765

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The optimal weights on indicators in models with partial information about the state of the economy and forward-looking variables are derived and interpreted, both for equilibria under discretion and under commitment. The private sector is assumed to have more information than the policymaker. Certa