[...]This article describes the U.S. experience with inflationindexeddebt, including the evolution of activity in the TIISmarket since its inception and the valuation of those securitiesrelative to nominal Treasury issues. We show that despite thepotential appeal of TIIS, their yields have been...

[...]This article adds to the literature by estimating andevaluating a comprehensive set of liquidity measures for theU.S. Treasury securities market. High-frequency data from theinterdealer market allow for an analysis of trading volume,trading frequency, bid-ask spreads, quote sizes, trade...

[...]Our first suggestion is to reduce the fragmentation oftrading in STRIPS by assigning the same CUSIP number to allSTRIPS maturing on a common date—thus making thoseSTRIPS fungible with each other. In addition to enhancing theliquidity of the STRIPS market, this action would ensure...

We investigate the association between cash flow volatility and labor investment efficiency using a sample of US-listed firms from 2000 to 2021. We document a positive association between cash flow volatility and labor investment efficiency. We also document that dividend-paying firms are...