Government Debt Maturity and Recoveries on Defaulted ...

We construct a measure of the term spread, which is the difference between the 10 year and 3 month Constant Treasury Maturity rates. We also include the 10 year Maturity Rate individually. We also include a proxy for default risk based on the cost of corporate borrowing for riskier borrowers relative to the less risky borrowers, which is the ... ................
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