Note on Level-Debt-Service Municipal Bidding

Cohen and Hammer [Cohen, K. J., F. S. Hammer. 1966. Optimal level debt schedules for municipal bonds. Management Sci. 13(3, November).] have shown that under certain conditions the problem of selecting a coupon-principal schedule, when bidding on a new issue of municipal bonds with a level-debt-service constraint, is a linear programming problem. A similar result was independently obtained by the present author, and is presented here, using the same definitions and notations as in Cohen and Hammer.

• 저널Management Science · 13(3) · 291–293
• 토픽Fiscal Policy and Economic Growth · Economics and Econometrics
• DOI10.1287/mnsc.13.3.291
• 저자