Some Empirical Estimates of the Risk Structure of Interest Rates
使用纯贴现债券估计利率的风险结构，发现违约风险溢价的时间轮廓与Merton（1974）的理论轮廓相似。
This paper investigates the risk structure of interest rates using pure discount bonds. The most striking feature of our estimates of default-risk premia is the resemblance of their time profile to the theoretical time profile obtained by Merton (1974).