Explaining Launch Spreads on Structured Bonds.
We investigate determinants of launch spreads in European securitization transactions over the last decade. First, we develop a simple, reduced-form pricing model for all issues across different transaction types and test it. We document the critical importance of credit ratings without refinements...
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| Format: | Working paper |
| Jezik: | English |
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Department of Economics (University of Oxford)
2005
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