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Applications

  1. SPX-Based Credit Spread Indices: Investment Grade (IG) and High Yield (HY)
  2. Oil- and Gold-Based Credit Spreads during the Financial Crisis
  3. Pseudo Credit Spreads of Pseudo Financial Firms during the Financial Crisis
  4. Pseudo Banks and Default Risk in Banking

Methodology

  1. What are "pseudo firms"?
  2. Why is the balance sheet of a pseudo firm observable?
  3. Why are "pseudo firms" useful as experimental entities?
Bond Payoff