Why fears about municipal credit are overblown
By: Daniel Bergstresser, Randolph Cohen
Contributors: Cohen, Randolph B.; Harvard Business School
Series: Working paper / Harvard Business School -- 11-129; Working paper (Harvard Business School) -- 11-129
Publisher: Harvard Business School
Published: 2011
Place of publication: Boston]
Language: eng
Number of pages: 48
Description: Highly publicized predictions of 50-100 municipal defaults have caused anxiety among municipal bond investors. While there is some chance that negative investor sentiment will lead to further spread widening, the probability of the kind of widespread default that would be required to justify current municipal bond yields is low. In this paper we document the reasons why the fears of widespread municipal default during the current recession are overblown.
Notes: "June 2011" -- Publisher's website.

"First version April 2011. Current draft June 2011." -- added t.p.

Includes bibliographical references.