Corporate Yield Spreads: Default Risk or Liquidity? New Evidence from the Credit-Default Swap Market
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下载链接：
https://www.nber.org/papers/w10418
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资源简介：
We use the information in credit-default swaps to obtain direct measures of the size of the default and nondefault components in corporate spreads. We find that the majority of the corporate spread is due to default risk. This result holds for all rating categories and is robust to the definition of
提供机构：
美国国家经济研究局
创建时间：
2004-04-01
