Christensen, Peter Ove; Nielsen, Jorgen Aase - In: Scandinavian Journal of Economics 89 (1987) 2, pp. 193-208
A bond-type effect which supplements the well-known coupon effect on yield to maturity is presented in this paper. By analyzing annuity bonds, ser ial bonds, and fixed-coupon bonds, it is shown that the bond-type eff ect is substantially larger than the coupon effect, which would hardl y be...