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The Risk-Free U.S. Bond Rate: Errors in Construction and Use in Econometric Work

By Patric H. Hendershott and Timothy Q. Cook

Working Papers

December 1977, No. 77-3

Observed differentials among yield series for different types of long-term instruments--U.S. government bonds, municipal bonds, corporate bonds and residential mortgages--vary considerably over time.

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Katrina Mullen