Understanding Inflation-Indexed Bond Markets pot

... University LUIS M. VICEIRA Harvard University Understanding Inflation-Indexed Bond Markets ABSTRACT This paper explores the history of inflation-indexed bond mar- kets in the United States and the ... relate the risk premiums on inflation-indexed bonds to the covariance of these bonds with stock returns. To capture the time-varying correlation of returns on inflation-indexed bonds...

Ngày tải lên: 06/03/2014, 08:20

... in‡ation-indexed bonds. We …rst use the consumption- based asset pricing framework, and then present a less structured empirical analysis that relates bond risk premia to changing covariances of bonds with ... short-term safe assets, consistent with the intuition that these bonds are the safe asset for long-term investors. 4.2 Bond Risk Premia and the Bond- Stock Covariance The consumpti...

Ngày tải lên: 16/02/2014, 02:20

... Baron (1977) look at four field experiments in which new products were introduced in a set of test markets accompanied by different levels of (non-price) advertising. Price also varied across stores ... the price variable. However, this creates a severe endogeneity problem, because coupons that were potentially available for the non-purchased brands are unobserved. 9 In contrast, C ijt is a...

Ngày tải lên: 07/03/2014, 08:20

... can- didates for the understanding result can be obtained for a user utterance due to the ambiguity of speech understanding, it is not appropriate to decide on a single understanding result after ... speech understanding, and updating the dialogue state based on both the previ- ous utterance and the current dialogue state is called discourse understanding. In general, the result of spe...

Ngày tải lên: 31/03/2014, 03:20

... shares or bonds, which grant the right of the owner to purchase future shares or bonds. Bond Markets in Serbia 4. Regulation and Bond Trading in Practice 25 Bond Markets in Serbia Bond Markets ... of by-laws Bond Markets in Serbia 3. Regulatory Environment for Bond Trading and Related Institutions 15 6 RS Official Gazette" No. 72/2003, 55/2004 Bond Markets in Serb...

Ngày tải lên: 15/03/2014, 09:20

... rely on cross-borer issuance for long-term bond financing. Global bond markets provide issuers with alternatives to regional bond markets for cross-border bond financing. The global financial centers ... for the creation of Asian bond markets. What are the Asian bonds? Asian bonds share three common factors; Asian issuers, Asian investors and Asian currencies. Asian bonds are...

Ngày tải lên: 27/01/2014, 11:20

... the development of bond markets is the impact on the banking system. One frequently heard worry is that bond markets could take business away from the banks. This raises some potential concerns ... banking and bond markets tend to be larger, relative to GDP, in rich countries, 2 although even some rich countries still have small bond markets. As economies mature, banking ma...

Ngày tải lên: 15/02/2014, 13:20

... to trust green claims and genuinely environmentally preferable products will penetrate their markets more rapidly and deeply. This will be great for consumers, great for business, and great ... standard? While incredibly valuable, single-attribute environmental claims do not address other potentially important human health and environmental issues. (3) How was the environmental st...

Ngày tải lên: 06/03/2014, 21:20

... Emerging Markets? 301 Covered Bond Issuers 302 MBS Issuers 304 Liquidity Facilities 306 Safety and Soundness Regulation in Mortgage Capital Markets 308 Mortgage-Backed Securities 308 Mortgage Bonds ... Micro nance 398 Potential Size of HMF Markets:  e Cases of Peru and Guatemala 399 Financial Performance of HMF 402 Other Opportunities for Housing Micro nance 404 Limited Potential for...

Ngày tải lên: 07/03/2014, 15:20

... corporate bond markets. The secondary markets for local currency corporate bonds in Asia have also lagged behind their government bond counterparts. While in the last few years government bond markets ... government bond market. 3 Because corporate bond issues are by definition more heterogeneous than those of government bonds and issue sizes smaller, such a threshold for...

Ngày tải lên: 22/03/2014, 18:20