Policy uncertainty and corporate credit spreads
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DOI: 10.1016/j.jfineco.2020.07.001
Abstract: Abstract We find a significant positive relation between changes in policy uncertainty and changes in credit spreads. Macroeconomic conditions, including general uncertainty, do not explain this result, which also holds when we use instrumental variables… read more here.
Keywords: credit spreads; uncertainty; policy uncertainty; uncertainty corporate ... See more keywords