Research

In creating fixed-income analytic models, Andrew Kalotay Associates draws upon pioneering research published by Dr. Kalotay and his associates over more than three decades. A member of the Fixed Income Analysts Society’s Hall of Fame, Dr. Kalotay’s innovations include the ratchet bond and ratchet mortgage; the Volatility Reduction Measure (for hedge effectiveness testing under FAS 133); and the concepts of refunding efficiency as applied to both corporate and municipal bonds and mortgages. He has authored or co-authored more than 50 journal articles on a wide range of topics. 

MBS

Bond Valuation and Structuring

Debt Management

Municipal Finance

Trade Press

Wealth Management

Consumer Finance

Innovations

 

Recent Research

The Pros and Cons of Premium Bonds

National Assoc. of Municipal Advisors, February 2015

Optimal Tax Management of Municipal Bonds

Journal of Portfolio Management, Winter 2015

Pricing 5% Bonds with Shorter Calls

The Bond Buyer - April 21, 2014

The Tax Option in Municipal Bonds

THE JOURNAL OF PORTFOLIO MANAGEMENT, WINTER 2014

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