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dc.contributor.authorWang, Yiwoen_US
dc.date.accessioned2012-06-28T20:57:42Z
dc.date.available2016-12-30T06:47:02Z
dc.date.issued2011-08-31en_US
dc.identifier.otherbibid: 7745455
dc.identifier.urihttps://hdl.handle.net/1813/29529
dc.description.abstractThis thesis develops a framework to price the implicit government guarantee embedded in the bonds issued by the Farm Credit System. It shows that the value of the implicit government guarantee for a specific bond is dependent on the yield spread, the risk-free interest rate, the maturity and the future value of the bond price. It also reconfirms Merton's theory (1974) that yield spreads are influenced by variances of the firm (volatility square), maturity and quasi debt to collateral value ratio (d-ratio). Furthermore, the hypothetical bond yields for the Farm Credit System bonds without GSE status are calculated based on the Black-Scholes Model.en_US
dc.language.isoen_USen_US
dc.titleThe Effects Of Government Sponsored Enterprise (Gse) Status On The Pricing Of Bonds Issued By The Federal Farm Credit Banks Funding Corporation (Ffcb)en_US
dc.typedissertation or thesisen_US
thesis.degree.disciplineAgricultural Economics
thesis.degree.grantorCornell Universityen_US
thesis.degree.levelMaster of Science
thesis.degree.nameM.S., Agricultural Economics
dc.contributor.chairTurvey, Calum G.en_US
dc.contributor.committeeMemberLiu, Edith X.en_US


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