German Bond Yields and Debt Supply : Is There a 'Bund Premium'? /
Are Bunds special? This paper estimates the 'Bund premium' as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sov...
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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
2019.
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| coleção: | IMF Working Papers; Working Paper ;
No. 2019/235 |
| Acesso em linha: | Full text available on IMF |