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Taking advantage of recently augmented corporate bond transaction data, we examine the pricing implications of informed trading in corporate bonds and its ability to predict corporate defaults. We find that microstructure measures of information asymmetry seem to capture adverse selection in...
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Are consumers who have filed for personal bankruptcy before excluded from the unsecured credit market? Using a unique … default risk--those with a bankruptcy history. On average, over one-fifth of personal bankruptcy filers receive at least one … offer in a given month, with the likelihood being even higher for those who filed for bankruptcy within the previous two …
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