Abstract
The authors find that counter to prior research, risky bonds typically have upward sloping credit yield curves.. Moreover, the estimated slope is negative, indicating a sample selection bias problem associated with maturity.
Volume
54:5
Page
1869-1884
Year
1999
Categories
Financial and Statistical Methods
Asset and Econometric Modeling
Asset Classes
Corporate Bonds
Financial and Statistical Methods
Asset and Econometric Modeling
Asset Classes
Municipal Bonds
Financial and Statistical Methods
Asset and Econometric Modeling
Credit Spreads
Financial and Statistical Methods
Asset and Econometric Modeling
Yield Curves
Actuarial Applications and Methodologies
Investments
Actuarial Applications and Methodologies
Valuation
Publications
Journal of Finance
