Corporate Bond Risk and Real Activity : An Empirical Analysis of Yield Spreads and Their Systematic Components /

This paper finds that the yield spread of investment-grade bonds relative to Treasuries, a proxy of default risk, predicts marginal changes in industrial production in the United States up to 12 months in the future, even upon controlling for a commonly used predictor such as the commercial paper sp...

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Xehetasun bibliografikoak
Egile nagusia: Ivaschenko, Iryna
Beste egile batzuk: Chan-Lau, Jorge
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2001.
Saila:IMF Working Papers; Working Paper ; No. 2001/158
Sarrera elektronikoa:Full text available on IMF