Pricing bonds is generally one of the earliest applications of time value of money in a finance curriculum. A bond … security. This paper works through the pedagogy of bond pricing and extends the traditional bond pricing formula in a manner … about bond pricing and the time value of money …

The study investigated both the January effect and the "sell-in-May-and-go-away" anomaly in government bond returns. It … volatility, credit risk, value, and momentum premia. Our examination of government bond markets in 25 countries for years 1992 …-2016 proved that both the bond returns and factor premia had remained unaffected by the January and "sell-in-May" effects. These …

procedure, to estimate the yield differential between a green bond and an otherwise identical synthetic conventional bond from … July 2013 to December 2017. The results suggest a small negative premium: the yield of a green bond is lower than that of a … conventional bond. On average, the premium is -2 basis points for the entire sample as well as for EUR and USD bonds separately. We …

Equilibrium bond-pricing models rely on inflation being bad news for future growth to generate upward-sloping nominal …

Some key features in the historical dynamics of U.S. Treasury bond yields-a trend in long-term yields, business cycle …

captures the arbitrage-free dynamics of stock returns and nominal bond yields. The model nests the class of affine term … structure (of interest rates) models. Stock returns and bond yields as well as risk premia are affine functions of the state …

Recent findings on the term structure of equity and bond yields pose serious challenges to existing models of … dynamics of equity and bond yields (and their yield spreads). The movements of equity and bond yields are driven mainly by … returns/yields and nominal bond returns/yields switched from positive to negative after the late 1990s, owing mainly to a …

-free rate, and the yield curve. In particular, the bond price decreases with the average belief and, in most situations, tends … belief dispersion also leads to higher bond volatility. In addition, the model nests the CIR model with time …

of bond and equity. I extend the long-run risks model by introducing a mean-reversion of dividend growth and external … the habit formation augments the equity premium and renders an upward-sloping bond yield curve, on average. In addition …-cyclical variations in bond and equity yield spreads and counter-cyclical variations in bond and equity term premiums, as observed in the …