This paper analyzes the term structure of interest rates in an exchangeonly Lucas (1978) economy where consumers learn about a stochastic growth rate through observations of the endowment process and an external public signal. We show that there is a premium for noisy external public information...

Full-text of this article is not available in this e-prints service. This article was originally published following peer-review in Information Resources Management Journal, published by and copyright I G I Global.