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China's GDP Growth May be Understated
Clark, Hunter - 2017
Concerns about the quality of China's official GDP statistics have been a perennial question in understanding its …
Persistent link: https://www.econbiz.de/10012455358
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Bond Markets as Conduits for Capital Flows : How Does Asia Compare?
Eichengreen, Barry - 2006
of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … head and shoulders above other regions in terms of financial integration. More interesting is that Asia already seems to …, and greater transparency that lead to larger and better developed financial systems in Asia, something that is conducive …
Persistent link: https://www.econbiz.de/10012466257
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Post-FOMC Announcement Drift in U.S. Bond Markets
Brooks, Jordan - 2018
The sensitivity of long-term rates to short-term rates represents a puzzle for standard macro-finance models. Post-FOMC announcement drift in Treasury markets after Federal Funds target changes contributes to the excess sensitivity of long rates. Mutual fund investors respond to the salience of...
Persistent link: https://www.econbiz.de/10012480779
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How the New Fed Municipal Bond Facility Capped Muni-Treasury Yield Spreads in the Covid-19 Recession
Bordo, Michael D.; Duca, John V. - National Bureau of Economic Research - 2021
For over two centuries, the municipal bond market has been a source of systemic risk, which returned early in the Covid-19 downturn when borrowing from securities markets became costly for many private and public entities, and some found it difficult to borrow at all. Indeed, just before the Fed...
Persistent link: https://www.econbiz.de/10012482653
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The Market for American State Government Bonds in Britain and the United States, 1830-1843
Kim, Namsuk - 2003
In the 1830s the British and American economies were hit by a series of shared macroeconomic shocks. This paper investigates the role of markets for Americas State bonds in Britain and the U.S. during and between the crises in 1837, 1839, and 1842. There is strong evidence that the crises in...
Persistent link: https://www.econbiz.de/10012468586
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The Effects of U.S. Monetary Policy on Emerging Market Economies' Sovereign and Corporate Bond Markets
Burger, John D. - 2017
We analyze the effect of the US Federal Reserve's monetary policy on EME sovereign and corporate bond markets by focusing on two dimensions: the evolution of the structure (size and currency composition) of the bond markets and their allocations within the bond portfolios of US investors. Global...
Persistent link: https://www.econbiz.de/10012455054
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Identification through Heteroskedasticity : Measuring "Contagion
Rigobon, Roberto - 2000
In this paper, I develop a new identification method to solve the problem of simultaneous equations, based on heteroskedasticity of the structural shocks. I show that if the heteroskedasticity can be described as a two-regime process, then the system is just identified under relatively weak...
Persistent link: https://www.econbiz.de/10012471283
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Newer Need Not be Better : Evaluating the Penn World Tables and the World Development Indicators Using Nighttime Lights
Pinkovskiy, Maxim - 2016
Nighttime lights data are a measure of economic activity whose error is plausibly independent of the measurement errors of most conventional indicators. Therefore, we can use nighttime lights as an independent benchmark to assess existing measures of economic activity (Pinkovskiy and...
Persistent link: https://www.econbiz.de/10012456459
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Effect of Macroprudential Policies on Sovereign Bond Markets : Evidence from the ASEAN-4 Countries
Aizenman, Joshua; Uddin, Mohammed Gazi Salah; Luo, Tianqi; … - National Bureau of Economic Research - 2022
ASEAN-4 countries (Indonesia, Malaysia, the Philippines, and Thailand). We measure sovereign vulnerability within a risk …
Persistent link: https://www.econbiz.de/10013388833
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Stock Market Stimulus
Greenwood, Robin; Laarits, Toomas; Wurgler, Jeffrey - National Bureau of Economic Research - 2022
We study the stock market effects of the arrival of the three rounds of "stimulus checks" to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios....
Persistent link: https://www.econbiz.de/10013172127