On the Optimality of Interest Rate Smoothing
In this paper, we study some continuous-time cash-in-advanced models in which interest rate smoothing is optimal. We consider both deterministic and stochastic models.
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|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.|
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