, which is more pronounced for higher maturities and when risk aversion proxied by bond market volatility is high. Going …

This paper examines equilibrium price relationships and price discovery between credit defaul swap (CDS), bond, and … equity markets for emerging market sovereign issuers. Findings suggest that CDS and bond spreads converge despite various … bond and CDS markets and the equity markets. As for price discovery, our results are mixed. This stands in contrast to the …

interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall …

growth, inflation, and monetary policy, and an inflation surprise could require monetary policy to tighten faster than …

Over the past year, euro area sovereign spreads have exhibited an unprecedented degree of volatility. This paper …

-term liquidity effects, where monetary costs act as transaction costs and the quantity theory of money is verified …