The State-Contingent Debt Premium: Evidence from French Public Bonds
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State-contingent debt (SCD) instruments have been proposed as an improvement to sovereign debt markets, but their issuance costs are not well understood. We estimate the SCD premium at issuance and for more than a decade thereafter, employing a quasi-twin bond strategy that uses two very similar
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美国国家经济研究局创建时间：
2026-05-01
