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I propose a theory of debt maturity as an incentive device to motivate innovation when contracts are fundamentally … when contracts are incomplete. I show how an appropriate choice of debt maturity, together with ex-post contract …
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This report looks at how investors have responded to the need to internalise investment risk in power generation and how these responses have affected the organisation of the power sector and technology choices. This study looks at several cases of volatile prices in IEA countries’ electricity...
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