Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure
收藏NBER2010-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w16151
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资源简介：
I build a dynamic capital structure model that demonstrates how business-cycle variations in expected growth rates, economic uncertainty, and risk premia influence firms' financing and default policies. Countercyclical fluctuations in risk prices, default probabilities, and default losses arise
提供机构：
美国国家经济研究局
创建时间：
2010-07-01
