Advance Refundings of Municipal Bonds
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https://www.nber.org/papers/w19459
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资源简介:
Municipal bonds are often "advance refunded." Bonds that are not yet callable are defeased by creating a trust that pays the interest up to the call date, and pays the call price. New debt, generally at lower interest rates, is issued to fund the trust. Issuing new securities generally has zero net
提供机构:
美国国家经济研究局
创建时间:
2013-09-01



