Report copyright - Transactions Cost and Interest Rate Rulespeople.tamu.edu/~hagenkim/kim_subra_jmcb.pdfmin cjt Z 1 0 p jtc jtdj (3) subject to ∙Z 1 0 c θ−1 θ jt dj ¸ θ θ−1 ≥C t (4) Solving
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