Kwan, Simon H. (contributor); … - 2004
of Arizona
Working Paper 2004-20
http://www.frbsf.org/publicatio ns/economics/papers/2004/wp04-20bk …) 974-2168
E-mail address: simon.kwan@sf.frb.org
and
Willard T. Carleton
Department of Finance
College of Business and … relationship between credit spreads and
the business cycle, where credit spreads tend to be highest at the bottom of the business …