This paper revisits the credit spread puzzle for banks from the perspective of information contagion. The puzzle consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture common factors in the residuals. We reproduce the...

This paper revisits the credit spread puzzle for banks from the perspective of information contagion. The puzzle consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture common factors in the residuals. We reproduce the...

This paper revisits the credit spread puzzle in bank CDS spreads from the perspective of information contagion. The puzzle, first detected in corporate bonds, consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture...

This paper revisits the credit spread puzzle in bank CDS spreads from the perspective of information contagion. The puzzle, first detected in corporate bonds, consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture...

The notion of Equality of Opportunity (EO) has pervaded much of economic and social justice policy over the last half century in conveying a sense of liberation from the circumstances that constrain an individual’s ability to achieve it, and it has been a cornerstone of many gender equality...

This paper introduces an index that facilitates the testing of differing matching theories based on the degree of overlap between a theoretically generated matching joint density and its empirical counterpart. The index is asymptotically Normal, consequently permitting inference. To demonstrate...