A Re-Examination of the Impact of Credit Ratings and Economic Factors on State Bond Yield

In this article we re-examine the impact of credit ratings and economic factors on state bond yields using a two-step model. In the first step, we adopt an ordered probit technique to obtain consistent estimates of state bond default risk. In the second step, we estimate state bond risk premiums usi...

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Bibliographic Details
Main Authors: WU, Chunchi, Kao, C.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 1994
Subjects:
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/858
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Institution: Singapore Management University
Language: English

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