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Liquidity effects in corporate bond spreads
Helwege, Jean; Huang, Jing-Zhi; Wang, Yuan - In: Journal of Banking & Finance 45 (2014) C, pp. 105-116
Corporate bond spreads are affected by both credit risk and liquidity and it is difficult to disentangle the two … firm and that trade on the same day, allowing us to examine the effects of liquidity in a sample of bond pairs. We examine … standard liquidity measures to determine how well they explain the differences in the two bonds’ yield spreads and find that …
Persistent link: https://www.econbiz.de/10010943185
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Der marktphasenabhängige Einfluss der Liquidität auf die Credit Spreads von Corporate Bonds
Gann, Philipp - Volkswirtschaftliche Fakultät, … - 2010
Gegenstand der vorliegenden Studie ist die vertiefte Analyse des marktphasenabhängigen Einflusses der Liquidität auf die Credit Spreads Euro denominierter Unternehmensanleihen. Dabei werden zwei Untersuchungsperioden während verschiedener Kapitalmarktphasen betrachtet. Die erste...
Persistent link: https://www.econbiz.de/10008544248
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Economic Growth and Integration in Central America
Schipke, Alfred; Desruelle, Dominique - International Monetary Fund (IMF) - 2007
How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...
Persistent link: https://www.econbiz.de/10005590924
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Seychelles; 2010 Article IV Consultation and Second Review Under the Extended Arrangement, Request for Rephasing of Disbursements, and Financing Assurances Review-Staff Report; Sta...
International Monetary Fund (IMF); International … - 2011
Seychelles's strong stabilization efforts has helped the economy to overcome debt crisis and global recession under the Stand-By Arrangement (SBA). But the authorities need to address monetary policy trade-offs, and financial sector challenges exist. Executive Directors welcomed Seychelles's...
Persistent link: https://www.econbiz.de/10011242936
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Bank Risk Within and Across Equilibria
Agur, Itai - International Monetary Fund (IMF) - 2014
The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on...
Persistent link: https://www.econbiz.de/10010800971
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Unfunded pension liabilities and sponsoring firm credit risk: an international analysis of corporate bond spreads
Gallagher, Ronan; McKillop, Donal - In: The European Journal of Finance 16 (2010) 3, pp. 183-200
This paper tests empirically whether pension information derived by corporate pension accounting disclosures is priced in corporate bond spreads. The model represents a hybrid of more traditional accounting ratio-based models of credit risk and structural models of bond spreads initiated by...
Persistent link: https://www.econbiz.de/10008674495
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Informal Private Debt : Ein Beitrag zur innovativen Finanzwirtschaft von Unternehmen
Bizenberger, Rainer - 2009
Persistent link: https://www.econbiz.de/10004931008
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India; 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India
International Monetary Fund (IMF); International … - 2009
India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are … liquidity requirement together with stepped-up open market operations have been fully warranted. …
Persistent link: https://www.econbiz.de/10011244299
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Euro Area Policies; Selected Issues
International Monetary Fund (IMF); International … - 2009
This Selected Issues paper discusses the effectiveness of monetary policy in the euro area in the context of the financial crisis, the need for special resolution regimes for financial institutions in the European Union (EU), and the proposed new EU financial stability arrangements. The paper...
Persistent link: https://www.econbiz.de/10011244389