The Risk Premiumon Italian Government Debt, 1976-1988 /

This paper considers the behavior of the yield differential between government and nongovernment bonds in Italy between 1976 and 1988. It is shown that the trend increase of the differential observed in this period was significantly influenced by the deterioration of public finances, as reflected bo...

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Bibliografiske detaljer
Hovedforfatter: Cottarelli, Carlo
Andre forfattere: Mecagni, Mauro
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 1990.
Serier:IMF Working Papers; Working Paper ; No. 1990/038
Online adgang:Full text available on IMF
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100 1 |a Cottarelli, Carlo. 
245 1 4 |a The Risk Premiumon Italian Government Debt, 1976-1988 /  |c Carlo Cottarelli, Mauro Mecagni. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1990. 
300 |a 1 online resource (42 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper considers the behavior of the yield differential between government and nongovernment bonds in Italy between 1976 and 1988. It is shown that the trend increase of the differential observed in this period was significantly influenced by the deterioration of public finances, as reflected both by an increase in the relative supply of government with respect to nongovernment paper and by a worsening of selected default risk indicators. In addition, the effect of relative supply factors was found to be statistically more robust and quantitatively more important than the effect of risk indicators in explaining the movements of the yield differential. 
538 |a Mode of access: Internet 
700 1 |a Mecagni, Mauro. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1990/038 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1990/038/001.1990.issue-038-en.xml  |z IMF e-Library