Differences in economic and theological approaches to debt cancellation result from differences in disciplinary assumptions in respect of purpose, method, and argument. We argue that they provide alternative commentaries upon the need for debt cancellation, but that it is not possible to demonstrate the superiority of one over the other, so practitioners in one are likely to continue to find it...

Recent advances in asset pricing|the reduced-form approach to pricing risky debt and derivatives|are used to quantitatively evaluate several proposals for mandatory bank issue of subordinated debt. We nd that credit spreads on both xed and oating rate subordinated debt provide relatively clean signals of bank risk and are not unduly in uenced by non-risk factors. Fixed rate debt with a put is u...

Motivated by empirical facts, we develop a theoretical model for optimal currency government debt portfolio and debt payments, which allows both government debt aversion and jumps in the exchange rates. We obtain first a realistic stochastic differential equation for public debt, and then solve explicitly the optimal currency debt problem. We show that higher debt aversion and jumps in the exch...

Close circumnavigation is an important function indispensable for servicing satellites. We discuss the bielliptic yaround maneuver by impulsive thrust control for a small and low cost servicing satellite ying around a target satellite. An optimal feedback control scheme for the thrust is proposed to maintain this trajectory in the presence of disturbances. The extended Kalman lter is employed t...