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Modeling expected return on defaultable bonds
Yu, Fan
- In:
The journal of fixed income
12
(
2002
)
2
,
pp. 69-81
Persistent link: https://www.econbiz.de/10001745245
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MODELING EXPECTED RETURN ON DEFAULTABLE BONDS - The literature on credit risk focuses on fitting bond prices and explaining yield spreads, while largely skirting the issue of expected return. The unique feature of credit risk, however, implies that the expected return on defaultable bonds is not synonymous with the (pre-default) price process as in the case of default-free bonds. The author ...
Yu, Fan
- In:
The journal of fixed income
12
(
2002
)
2
,
pp. 69-81
Persistent link: https://www.econbiz.de/10007164216
Saved in:
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