The Price of Safety: The Evolution of Municipal Bond Insurance Value
Published Online:4 Jul 2023https://doi.org/10.1287/mnsc.2023.4813
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Volume 70, Issue 4
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Pages v-vii, 2023-2704, iii-iv
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- Received:May 19, 2020
- Accepted:October 12, 2022
- Published Online:July 04, 2023
Copyright © 2023, INFORMS
Cite as
Kimberly Cornaggia, John Hund, Giang Nguyen (2023) The Price of Safety: The Evolution of Municipal Bond Insurance Value. Management Science 70(4):2330-2354.
https://doi.org/10.1287/mnsc.2023.4813
Keywords
The authors thank Ryan Israelsen and Marc Joffe for comprehensive historical municipal bond ratings; Zihan Ye for geographic mapping data; Dan Bergstresser, Daniel Garrett, Mattia Landoni, Scott Richbourg, Richard Ryffel, Mike Stanton, Anjan Thakor, and audience members at the Federal Reserve Board, Penn State University, the 2019 SFS Cavalcade, Texas Christian University, the U.S. Securities and Exchange Commission, the 2019 Brookings Institution Municipal Finance Conference, and the University of Georgia for comments and suggestions; and Brian Gibbons and Dan McKeever for research assistance.
