Capozza, Dennis R.; Kazarian, Dick; Thomson, Thomas A. - In: Real Estate Economics 26 (1998) 3, pp. 259-289
This research examines the implications of contingent-claims models for empirical research on default. We focus on the probability of default over a short horizon given the current state of the world, "i.e.", the conditional probability of default, which more closely resembles the estimates of...