Understanding Ináation-Indexed Bond Markets
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Overall, the results of our paper have important implications regarding the impact ofcorporate events, such as defaults and bankruptcies on debt values, the relative monitoringadvantage of loans (and bank lenders) versus bonds, the benefits of loan monitoring for otherfinancial markets (such as the bond market and the stock market), and on the potentialdiversification benefits of including loans as an asset class in an investment portfolio alongwith stocks and bonds.The remainder of the paper is organized as follows. Section 2 describes the growth of thesecondary market for bank loans. Section 3 describes our data and sample selection. Section4 presents our test...
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Understanding Ináation-Indexed Bond Markets
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Understanding Ináation-Indexed Bond Markets
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