Haku
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Estimating conditional betas and the price of risk for a thin stock market
(16.03.1992)
Bank of Finland Research Discussion Papers 8/1992
Bank of Finland Research Discussion Papers 8/1992
This paper examines the Sharpe-Lintner Capital Asset Pricing Model (CAPM) in which time-varying-parameter models are altemative to the static market model. Prior evidence does not support the CAPM and suggests that market ...
Risky debt, bad bank and government
(30.11.1993)
Bank of Finland Research Discussion Papers 16/1993
Bank of Finland Research Discussion Papers 16/1993
The purpose of this paper is to put forward a valuation framework for interest rate sensitive claims. We concentrate on secured loans. The value of the secured loan depends upon the coupon rate, the maturity, the term ...