Köppl, Thorsten V. - 2004
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while the risk-free rate per se tends to be lower. This suggest a potential new route
for analyzing pricing puzzles by …, default premia - are increasing
borrowing costs, while the risk-free rate per se tends to be lower. This suggest a potential …).
Operating this technology in period t at a level d
t
requires an investment of resources
equal to ψ(d
t
) in period t which …