Are Sovereign Debt Secondary Market Returns Sensitive to Macroecoriomic Fundamentals? : Evidence from the Contemporary and Interwar Markets.
The insensitivity of sovereign loan secondary market returns to macroeconomic fundamentals has been attributed to market illiquidity and the absence of publicly reported transactional prices. During the 1920s and 1930s sovereign bonds were traded in an active market and weekly transactional prices w...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
1990.
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| Серии: | IMF Working Papers; Working Paper ;
No. 1990/069 |
| Online-ссылка: | Full text available on IMF |