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We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...
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This paper attempts to find an aggregate leading indicator to predict the spreads observed for high-yield (HY) bond indices. Using a vector error correction (VEC) specification for quarterly data, we establish a long-term equilibrium relationship between the HY market spreads and its...
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This paper was delivered by Dr Olarn Chaipravat at a seminar jointly organized by the Institute of Southeast Asian Studies and the Saw Centre for Financial Studies, NUS Business School in Singapore on 30 September 2004.
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This report presents a comprehensive analysis of the use and structure of corporate bond markets in Asia. Based on …
Persistent link: https://www.econbiz.de/10014568648
constraints in acquiring local currency and foreign currency liquidity in the corporate sector in Asia as foreign banks withdrew … investments from Asia. Furthermore, Asia needs large long term capital (US$ 750 billion per year for 2010–2020) for developing … productive investments in Asia. To enhance corporate bond financing, it is important to examine factors that affect the effective …
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