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Sovereign Green Bonds: A Catalyst for Sustainable Debt Market Development?
Cheng, Gong - 2024
In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market … development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond … markets. Yet, our empirical study finds that sovereign green bond issuance can have quantitative and qualitative benefits for …
Persistent link: https://www.econbiz.de/10015080326
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Green Bond Pricing and Greenwashing under Asymmetric Information
Schmittmann, Jochen M. - 2022
We analyze the corporate green bond market under a rational framework without an innate green preference, using a …, false or exaggerated claims of being green. The extent of greenwashing in the market is a function of the green bond premium …. A swift and gradual implementation of carbon pricing generates a small green bond premium and a low level of …
Persistent link: https://www.econbiz.de/10015059920
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Sovereign ESG Bond Issuance: A Guidance Note for Sovereign Debt Managers
Lindner, Peter - 2023
to provide issuers and other stakeholders with a comprehensive view of the ESG bond marketplace …
Persistent link: https://www.econbiz.de/10015059620
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Sovereign risk and asset and liability management : conceptual issues
Das, Udaibir S.; Lu, Yinqiu; Papaioannou, Michael G.; … - 2012
Country practices towards managing financial risks on a sovereign balance sheet continue to evolve. Each crisis period, and its legacy on sovereign balance sheets, reaffirms the need for strengthening financial risk management. This paper discusses some salient features embedded in in the...
Persistent link: https://www.econbiz.de/10009659824
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Tracking Global Demand for Advanced Economy Sovereign Debt.
Arslanalp, Serkan - 2012
Share in Government Debt Stock, 2004-11 -- 6. Advanced Economies: Foreign Net Purchases and Sales of Government Debt, 2008 …
Persistent link: https://www.econbiz.de/10012690158
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Wealth Effects in Europe : A Tale of Two Countries (Italy and the United Kingdom)
Muñoz, Sònia - 2006
Intro -- Contents -- I. Introduction -- II. Household Data on Wealth and Consumption -- III. Capital Markets in Europe and Household Portfolios -- IV. The Life-Cycle Model of Consumption -- V. The Basic Model -- VI. Empirical Results -- VII. Conclusion -- Appendix: Data and Constructed Variables...
Persistent link: https://www.econbiz.de/10012691071
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Habit Formation and Persistence in Individual Asset Portfolio Holdings : The Case of Italy
Muñoz, Sònia - 2006
Intro -- Contents -- I. Introduction -- II. Habit Formation in Household Portfolios -- III. The Model: Multiperiod Multinomial Probit with Autocorrelated Errors and Unobserved Heterogeneity -- IV. Empirical Results -- V. Conclusion -- Appendix: Data and Statistics -- References.
Persistent link: https://www.econbiz.de/10012691187
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Bank Competition, Risk and Asset Allocations
Boyd, John H. - 2009
We study a banking model in which banks invest in a riskless asset and compete in both deposit and risky loan markets. The model predicts that as competition increases, both loans and assets increase; however, the effect on the loans-to-assets ratio is ambiguous. Similarly, as competition...
Persistent link: https://www.econbiz.de/10012677801
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Elasticity Optimism
Fund, International Monetary - 2009
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10012677518
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International Currency Portfolios
Kumhof, Michael - 2009
correctly described by an arbitrage relationship but instead also depends on outstanding bond stocks. Other findings are: (1 …) There is a monotonically increasing relationship between domestic interest rates and the portfolio share of domestic c …
Persistent link: https://www.econbiz.de/10012677715