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The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers' interest bu
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::883c7eae026052a56bc19d59b65e7d4a
https://hdl.handle.net/10419/252017
https://hdl.handle.net/10419/252017
