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Dynamic Models of Bond Refunding, Decision Sciences
Abstract
Dynamic programming models of bond refunding have been given by Weingartner, Kalymon and Elton and Gruber. This paper gives a formulation of this problem that lends itself to extensions including the term structure of interest rates, delayed-call provisions, and "rolling over" the outstanding debt. Finally, the cost of computation is examined, along with some examples.
Type
Article
Author(s)
Date Published
1975
Citations
Magee, Robert. 1975. Dynamic Models of Bond Refunding. Decision Sciences.(4): 614-630.
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