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THE EFFECT OF CALL RISK ON CORPORATE BOND YIELDS

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  • This study is supported by a Faculty Research Fellowship awarded to the first author by the Research Foundation of the State University of New York for the Summer, 1966. Computations are performed at the Computing Center at the State University of New York at Buffalo which is partially supported by NIH Grant FR-00126 and NSF Grant GP-5675. The authors also thank Mr. W. B. Hickman of the Federal Reserve Bank of Cleveland, Mr. Sidney Homer of Salomon Brothers and Hutzler, and the reviewer for their many helpful comments.

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