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The Nonlinear Dynamics of Corporate Bond Spreads: Regime-Dependent Effects of...
This paper studies the behavior of corporate bond spreads during different market regimes between 2004 and 2016. Applying a Markov-switching vector autoregressive (MS-VAR)... -
Does Retail Trading Matter to Price Discovery?
The diminishing importance of retail investors and the institutionalization of markets are arguably a result of the general perception that individuals are not well informed...
