Multi-Period Corporate Default Prediction With Stochastic Covariates
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We provide maximum likelihood estimators of term structures of conditional probabilities of corporate default, incorporating the dynamics of firm-specific and macroeconomic covariates. For U.S. Industrial firms, based on over 390,000 firm-months of data spanning 1979 to 2004, the level and shape of
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美国国家经济研究局创建时间：
2006-01-01
