Measuring the default risk of bonds using yields to maturity

In both the theoretical and empirical literature of finance the relative riskiness of two debt instruments identical in all respects save the likelihood of default on payments of principal and/or interest has generally been measured by the difference between the yields to maturity of the two debt instruments.

MoreLess

Year of publication:	1978
Authors:	Lawler, Thomas A.
Institutions:	Federal Reserve Bank of Richmond
Subject:	Bonds \| Risk

More details

Extent:	text/html application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 78-04
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004993965