Bond Risk, Bond Return Volatility, and the Term Structure of …

Bond Risk, Bond Return Volatility, and the Term Structure of Interest Rates Luis M. Viceira1 First draft: May 2005 This draft: February 2007 Abstract This paper explores time variation in bond risk, as measured by the covariation of bond returns with stock returns and with consumption growth, and in the volatility of bond returns. A robust ... ................
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