This paper compares supply and demand to assess to what extent there can be a market for GDP-linked bonds (GLBs). For …

Using data on institutional investors' bond holdings, we investigate the resilience of green bonds to the COVID-19 … shock in a difference-in-differences framework. We find that during the COVID outbreak green bonds experience lower sales …, on average, while in normal times no significant differences emerge compared with conventional bonds. The result is …

While green bonds are becoming increasingly popular in the corporate finance practice, little is known about their … pronounced, significant and long-lasting when we exclude green bonds with refinancing purposes, which is consistent with an … of green bonds that have external review, as well as those issued after the Paris Agreement. …

A natural liquidity mismatch emerges when liquid exchange traded funds (ETFs) hold relatively illiquid assets. We … provide a theory and empirical evidence showing that this liquidity mismatch can reduce market efficiency and increase the … conflict is small, liquidity mismatch reduces the arbitrage capacity of ETFs; as the conflict increases, an inventory …

There are competing arguments about the likely effects of Sovereign Bond-Backed Securitisation on the liquidity of … sovereign bond markets. By analysing hedging and diversification opportunities, this paper shows that positive liquidity …

and market participants would find it more costly to trade, with a negative impact on market liquidity and the real …