| Some pitfalls in loan subsidy valuation.: An article from: Engineering Economist |  | Author: Jacques Schnabel
Publisher: Institute of Industrial Engineers, Inc. (IIE)
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Format: HTML
Language: English (Published)
Media: Digital
Pages: 7
ASIN: B00287GJUS
Publication Date: January 1, 2009
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Product Description
This digital document is an article from Engineering Economist, published by Institute of Industrial Engineers, Inc. (IIE) on January 1, 2009. The length of the article is 1914 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.
From the author: Notwithstanding his exhaustive treatment of alternative loan subsidy valuation methods, Jennergren entertains only one type of loan structure in his paper, to wit, bond-type arrangements that entail only interest payments during the life of the debt and the repayment of the entire principal at maturity. The effects of this loan structure specificity are illustrated in the context of Jennergren's dual interpretations of his first loan subsidy valuation method. It is shown that, absent a restriction that the loan must satisfy, the two interpretations result in different valuations. This cautionary note argues that future research must develop loan subsidy valuation methods that are loan structure robust by addressing the more fundamental issue that remains unresolved, namely, how to calculate the amount of the unsubsidized loan that is replaced by the subsidized loan.
Citation Details
Title: Some pitfalls in loan subsidy valuation.
Author: Jacques Schnabel
Publication: Engineering Economist (Magazine/Journal)
Date: January 1, 2009
Publisher: Institute of Industrial Engineers, Inc. (IIE)
Volume: 54 Issue: 1 Page: 75(5)
Distributed by Gale, a part of Cengage Learning
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