Vassar Scholarship
Closed-end fund discounts and interest rates: positive covariance in US data after 1985
Publication Date
2005-September-01
Document Type
Department or Program
Document Type
Abstract
Previous papers find no relationship between interest rates and the discounts of US closed-end funds before 1985. This is taken as evidence against management fees being a cause of discounts because a negative relationship is expected: if interest rates rise...
