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Optimal Management of Indexed and Nominal Debt

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NBER1997-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6197
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A tax-smoothing objective is used to assess the optimal consumption of public debt with respect to maturity and contingencies. This objective motivates the government to make its debt payout contingent on the levels of public outlay and the tax base. If these contingencies are present, but asset
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1997-09-01
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