's private information, then the issuer sells its least information-sensitive assets first. We apply this result to consider … extend these results to consider optimal ex post security design under asymmetric information. We identify a unique … equilibrium when the issuer's information and the return of its portfolio are discrete, and give a sufficient condition for …

private sector, impairing the stabilizing effects of the policy. Using a theoretical model, we show that these signaling … identify fiscal news with different degrees of signaling effects and find that such effects weaken or, in extreme cases, even …