A Monthly Index of Bond Yields, 1919-23
The Review of Economics and Statistics
1923
THE purpose of the present study is to revise our index of the yield of io railroad bonds by correcting certain defects which have become apparent, so that it will more accurately register the fluctuations of pure long-time interest rates. Table X presents the maturity dates and other data for the bonds included in the old index.' The wide variation in maturity dates, ranging from I927 to 236i, and the fact that the bonds do not at present represent high class investments in railroad securities are obvious reasons for the construction of a new index.
- DOI
- 10.2307/1928891
- Volume
- 5 (3)
- Pages
- 212
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