Liquidity, Liquidity Risk and Spreads: Some Results and Open Questions Viral V. Acharya Liquidity Risk Premia in Corporate Bond Markets Frank De Jong and Joost Driessen Discussion of "Liquidity Risk Premium Corporate Bond Markets" by Frank de Jong and Joost Driessen Marti G. Subrahmanyam Discussion on Latent Liquidity Lasse Heje Pedersen Default Risk, Shareholder Advantage, and Stock Returns Lorenzo Garlappi, Tao Shu and Hong Yan In Search of Distress Risk John Y. Campbell, Jens Hilscher, and Jan Szilagyi Discussion: in Search of Distress Risk and Default Risk, Shareholder Advantage, and Stock Returns Kent D. Daniel Structural Models: an Overview Rangarajan K. Sundaram Can Structural Models Price Credit Risk? Jan Ericsson (Joint with Joel Reneby and Hao Wang) Comments on: Can Structural Models Price Default Risk? Evidence from Bond and Credit Derivative Markets by Jan Ericsson, Joel Reneby and Hoa Wang Stephen M Schaefer Forecasting Default with the Merton Model (Previously the KMV-Merton Model) Sreedhar T Bharath and Tyler Shumway Structural Modeling in Practice Jeffrey R. Bohn The Link between Default and Recovery Rates Edward I. Altman Recovery on Defaulted Debt: Aggregation, Role of Debt Mix, and a Bit about Systematic Risk Mark Carey & Michael Gordy Discussion of "Recovery on Defaulted Debt" by Mark Carey and Michael Gordy Richard Cantor Discussion of Carey and Gordy (2006) David Keisman Humpbacks in Credit Spreads Deepak Agrawal and Jeffrey R. Bohn Discussion: Humpbacks in Credit Spreads Deepak Agrawal and Jeffrey Bohn Pierre Collin-Dufresne The Single Name Corporate CDs Market Alan White Sovereign Debt and CDs Suresh Sundaresan Default and Recovery Implicit in the Term Structure of Sovereign CDs Spreads Kenneth J. Singleton (Based on Joint Work with Jun Pan) Developments in CDO Pricing John Hull An Empirical Analysis of the Pricing of Collateralized Debt Obligations Francis Longstaff and Arvind Rajan Discussion of F. Longstaff and A. Rajan: An Empirical Analysis of the Pricing of Collateralized Debt Obligations David Lando Frailty Correlated Default Darrell Duffie, Andreas Eckner, Guillaume Horel and Leandro Saita Discussion of Frailty Correlated Default Bjorn Flesaker