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Having it both ways : a theory of the banking firm with time-consistent and time-inconsistent depositors

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The effect of monetary policy on bank wholesale funding

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Debt dynamics with fixed issuance costs

Benzoni, Luca; Garlappi, Lorenzo; Goldstein, Robert S.; … - 2023

prior to issuing additional debt. For realistic values of issuance costs and debt maturity, the no-commitment policy … generates tax benefits that are similar to those obtained by a benchmark policy with commitment. For positive but arbitrarily …

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