On the Optimality of Interest Rate Smoothing
收藏NBER1997-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5947
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资源简介：
This paper studies some continuous-time cash-in-advance models in which interest rate smoothing is optimal. We consider both deterministic and stochastic models. In the stochastic case we obtain two results of independent interest: (i) we study what is, to our knowledge, the only version of the
提供机构：
美国国家经济研究局
创建时间：
1997-02-01
