The Journal of Finance

DURATION AND RISK ASSESSMENT FOR BONDS AND COMMON STOCKS: A NOTE*

Published: 03/01/1978   |   DOI: 10.1111/j.1540-6261.1978.tb03406.x

Miles Livingston

Bond Taxation and the Shape of the Yield‐to‐Maturity Curve

Published: 03/01/1979   |   DOI: 10.1111/j.1540-6261.1979.tb02079.x

MILES LIVINGSTON

A Note on the Issuance of Long‐Term Pure Discount Bonds

Published: 03/01/1979   |   DOI: 10.1111/j.1540-6261.1979.tb02084.x

MILES LIVINGSTON

INDUSTRY MOVEMENTS OF COMMON STOCKS

Published: 06/01/1977   |   DOI: 10.1111/j.1540-6261.1977.tb01994.x

Miles Livingston

Bond Refunding Reconsidered: Comment

Published: 03/01/1980   |   DOI: 10.1111/j.1540-6261.1980.tb03482.x

MILES LIVINGSTON

A THEORY OF HUMPBACKED BOND YIELD CURVES

Published: 12/01/1977   |   DOI: 10.1111/j.1540-6261.1977.tb03368.x

Miles Livingston

The Effect of Bond Refunding on Shareholder Wealth: Comment

Published: 06/01/1979   |   DOI: 10.1111/j.1540-6261.1979.tb02146.x

MILES LIVINGSTON

A “DURATION” FALLACY

Published: 03/01/1977   |   DOI: 10.1111/j.1540-6261.1977.tb03252.x

Miles Livingston, John Caks

Flattening of Bond Yield Curves for Long Maturities

Published: 03/01/1982   |   DOI: 10.1111/j.1540-6261.1982.tb01101.x

MILES LIVINGSTON, SURESH JAIN

The paper presents a theoretical proof that flattening of yield curves for par bonds is inevitable for long maturities. This proof implies that behavioral explanations of flattening are unnecessary. The proof also implies that the use of yields to maturity of couponbearing bonds to estimate the true term structure (as well as forward rates) for long maturities has potentially infinite bias, suggesting that a greater effort should be made to directly estimate the true term structure in empirical work.

The Relative Price Volatility of Taxable and Non‐Taxable Bonds: A Note

Published: 06/01/1982   |   DOI: 10.1111/j.1540-6261.1982.tb02230.x

FRED D. ARDITTI, MILES LIVINGSTON