This paper proposes a new methodology to infer investors' expectations about the speed of leverage adjustment implicit in the prices of credit instruments. On average, the credit markets imply a fairly rapid annual speed of adjustment of 26% toward a firm's predicted leverage. The speed varies ...
Organic and small scale farmers are often railed against because their food is “elitist” or too expensive for the common person, when in fact the price that those farmers are asking is the reflection of paying farm workers a fair wage, the true cost of organic seed, the true, non-subsid...