More than 80% of U.S. syndicated loans contain at least one fee type and contracts typically specify a menu of spreads and fee types. We test the predictions of existing theories on the main purposes of fees and…
This article addresses one of the drawbacks of survey-based measures of expectations, the fact that updates are relatively infrequent, due to the monthly or quarterly frequency of survey waves. To obtain a more…
We propose a Bayesian shrinkage approach for vector autoregressions (VARs) that uses short-term survey forecasts as an additional source of information about model parameters. In particular, we augment the…