Credit Risk and Disaster Risk
收藏NBER2011-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17026
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Corporate credit spreads are large, volatile, countercyclical, and significantly larger than expected losses, but existing macroeconomic models with financial frictions fail to reproduce these patterns, because they imply small and constant aggregate risk premia. Building on the idea that corporate
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美国国家经济研究局创建时间：
2011-05-01
