The Leverage Factor: Credit Cycles and Asset Returns

• Josh Davis

  Josh Davis

  [email protected]

  Pacific Investment Management Company (PIMCO), Newport Beach, California 92660;

  Search for more papers by this author

  ,
• Alan M. Taylor

  Corresponding Author

  Alan M. Taylor

  [email protected]

  https://orcid.org/0000-0003-3273-0844

  Pacific Investment Management Company (PIMCO), Newport Beach, California 92660;Department of Economics and Graduate School of Management, University of California, Davis, California 95616;National Bureau of Economic Research, Cambridge, Massachusetts 02138;Centre for Economic Policy Research, London EC1V 0DX, United Kingdom

  Search for more papers by this author