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Stochastic intertemporal optimization: Long-term debt continuous time

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0003
Subject:
Economics and Finance, Financial Economics

This chapter answers the following technical questions: In a stochastic environment, where the return on capital and the interest rate are stochastic, what is an optimal (1) long-term debt, (2) ... More


Stochastic optimal control model of short-term debt 1

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0002
Subject:
Economics and Finance, Financial Economics

Data on the credit rating of bonds issued in the first half of the 1990s suggest that investors in emerging market securities paid little attention to credit risk, or that they were comfortable with ... More


Product Innovation and Welfare

Paul Stoneman, Eleonora Bartoloni, and Maurizio Baussola

in The Microeconomics of Product Innovation

Published in print:
2018
Published Online:
March 2018
ISBN:
9780198816676
eISBN:
9780191858321
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198816676.003.0012
Subject:
Economics and Finance, Microeconomics

This chapter addresses the impact of product innovation on economic welfare, initially defined as the sum of consumer and producer surpluses. In a static framework, it is shown how product innovation ... More


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