Understanding Aggregate Default Rates of High Yield Bonds

6 Pages Posted: 21 Jul 2007

See all articles by Jean Helwege

Jean Helwege

UC Riverside

Paul Kleiman

affiliation not provided to SSRN

Date Written: May 1996

Abstract

What explains the wide swings in the default rate on high yield bonds in recent years? Differences in credit quality from year to year account for much of the observed variation in default rates, but economic conditions and the age of bonds have also played a role.

Keywords: default rates, high-yield bonds, credit quality

JEL Classification: E44, G2, G3

Suggested Citation

Helwege, Jean and Kleiman, Paul, Understanding Aggregate Default Rates of High Yield Bonds (May 1996). Current Issues in Economics and Finance, Vol. 2, No. 6, May 1996. Available at SSRN: https://ssrn.com/abstract=1001231 or http://dx.doi.org/10.2139/ssrn.1001231

Jean Helwege (Contact Author)

UC Riverside ( email )

900 University Ave.
Anderson Hall
Riverside, CA 92521
United States
9518274284 (Phone)

Paul Kleiman

affiliation not provided to SSRN ( email )

No Address Available

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