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Various statistical properties and reliability aspects of a two-parameter distribution with decreasing and increasing failure rate are explored; the model includes the exponential-geometric distribution [Marshall and Olkin, 1997. Biometrika 84, 641–652; Adamidis and Loukas, 1998. Statist. Probab. Lett. 39, 35–42] as a special case. Characterizations are given and the estimation of parameters is studied by the method of maximum likelihood. An EM algorithm [Dempster et al., 1977. J. R. Statist. Soc. B. 39, 1–38] is proposed for computing the estimates, and expressions for their asymptotic variances and covariances are derived. Numerical examples based on real data are included. During a war, government will be able to issue debt only if Beats Headphones Cheap the public expects that the value of the debt will not be inflated away after the war. I argue that the United States government used the 1940s bond price support program to convey its intention to offset high rates of money production during the war with low rates later. Whether this program was credible depended on the expected duration of the war and the rule the public expected government to use in tax-financing the postwar government expenditures. Ex ante, the public may have been rational in buying low rate long-term war bonds, even though postwar money rates Buy Dre Beats Canada generated negative realized rates of return.