maximize its revenues from public bond issuances. Some of these interventions can be thought of as characteristics of a … secondary market turnover requirements for primary dealers with respect to bond sales seem to be in general more adequate than … the definition of maximum bid-ask-spreads or minimum turnover requirements with respect to bond purchases. Moreover …

, cumulatively, due to low bond yields since the onset of the Euro crisis. In order to determine the contribution of the "flight to … quality" to this sum, we define the flight to quality as a factor which has caused German bond yields and crisis country bond …

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

Expectations of risky bond payments are unobservable and recovery rates for sovereigns are hard to estimate because …