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Emerging Government Bond Market Timing
The Journal of Fixed Income, 2013Excess bond returns in developed markets are predictable using factors like bond momentum, equity momentum and term spread. We show the same factors can also predict emerging government bond returns of debt issued in local currency. An investment strategy based on the three factors delivers 1.2% outperformance per year after transaction costs. Emerging
Duyvesteyn, J, Martens, MPE
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Economics Letters, 2019
We perform the longest and broadest study of time variation in global financial market integration ever conducted. Using a unique comprehensive dataset, we examine returns on equities, government bonds, treasury bills, and currencies in 83 countries ...
Adam Zaremba +2 more
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We perform the longest and broadest study of time variation in global financial market integration ever conducted. Using a unique comprehensive dataset, we examine returns on equities, government bonds, treasury bills, and currencies in 83 countries ...
Adam Zaremba +2 more
semanticscholar +1 more source
Revisiting the growth effects of government bonds in the emerging capital market.
Corporate Governance and Organizational Behavior Review, 2019We revisited the effects of government bonds for the growth on the Nigerian capital market. Utilising time-series data obtained from the Nigeria Stock Exchange (NSE) annual reports for the period from 2010 to 2017, this study through the Generalised ...
T. O. Olaniyan, Samuel O. Ekundayo
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, 2019
Nominal yields for Japanese government bonds (JGBs) have been remarkably low for several decades. Japanese government debt ratios have continued to increase amid a protracted period of stagnant nominal GDP, low inflation, and deflationary pressures. Many
Tanweer Akram, Huiqing Li
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Nominal yields for Japanese government bonds (JGBs) have been remarkably low for several decades. Japanese government debt ratios have continued to increase amid a protracted period of stagnant nominal GDP, low inflation, and deflationary pressures. Many
Tanweer Akram, Huiqing Li
semanticscholar +1 more source
Optimal government bond finance
Journal of Macroeconomics, 1988Abstract Control theory is used to analyze optimal bond and tax finance, where welfare costs of taxation increase with increases in the tax rate, interest rates increase with increases in the ratio of bonds outstanding to wealth, and the government's objective is to minimize the present value of total welfare costs of taxation.
John B. Beare, Rasesh B. Thakkar
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Australian Economic Review, 2006
AbstractRecent studies have indicated that government bonds are an imperfect substitute for money in providing transaction services. Based on these studies, this article develops a theoretical framework showing that, as with money seigniorage, the government can gain an interest benefit from issuing government bonds.
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AbstractRecent studies have indicated that government bonds are an imperfect substitute for money in providing transaction services. Based on these studies, this article develops a theoretical framework showing that, as with money seigniorage, the government can gain an interest benefit from issuing government bonds.
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Corporate Bonds with Implicit Government Guarantees
Social Science Research Network, 2020Implicit government guarantees benefit corporate bonds issued by state-owned enterprises (SOEs) through a solvency protection premium and a bailout premium.
Ran Zhang, Yifei Li, Yuan Tian
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Social Science Research Network, 2020
Researchers have recently studied the interactions between corporate and government bond issuances within many countries. Some conclude that government bonds compete with private bond issuances, while others maintain that government bonds provide ...
M. Flannery, C. Hong, Baolian Wang
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Researchers have recently studied the interactions between corporate and government bond issuances within many countries. Some conclude that government bonds compete with private bond issuances, while others maintain that government bonds provide ...
M. Flannery, C. Hong, Baolian Wang
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Yield spreads on EMU government bonds
Economic Policy, 2003Government bond spreads We provide evidence that the movements in yield differentials between euro zone government bonds explained by changes in international risk factors – as measured by banking and corporate risk premiums in the United States – are more pronounced for bonds issued by Italy and Spain.
CODOGNO L. +2 more
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Secondary Government Bond Market
2006In light of the challenges to structure and develop bond markets amid changing environments, the Inter-American Development Bank set a project that aims to diagnose the current conditions for secondary government bonds market trading among LAC Debt Group members which can further substantiate initiatives to foment these markets according to regional ...
Reinaldo Le Grazie, Jose Maria Fernandez
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