Callegaro, Giorgia; Ceci, Claudia; Ferrari, Giorgio - In: Finance and Stochastics 24 (2020) 4, pp. 1083-1132
We consider a government that aims at reducing the debt-to-(gross domestic product) (GDP) ratio of a country. The government observes the level of the debt-to-GDP ratio and an indicator of the state of the economy, but does not directly observe the development of the underlying macroeconomic...
