title: Corporate default behavior: a simple stochastic model.
abstract: We compare observed temporal dynamics of corporate default to a first-passage-time model and find that corporations default as if via diffusive dynamics.
authors.affiliation: Capital Market Financial Products Group, Wells Fargo Bank, 555 Montgomery Street, San Francisco, California 94116, USA.
authors.forename: Ting
authors.initials: T
authors.lastname: Lei
authors.forename: Raymond J
authors.initials: RJ
authors.lastname: Hawkins