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An Anatomy of Corporate Bond Markets

An Anatomy of Corporate Bond Markets »

Source: An Anatomy of Corporate Bond Markets : Growing Pains and Knowledge Gains

Volume/Issue: 2005/152

Series: IMF Working Papers

Author(s): Pipat Luengnaruemitchai , and Li Ong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861716

Keywords: Benchmark, mature markets, regulation, bond, bonds, corporate bonds, corporate bond, General Financial Markets: Government Policy and Regulation,

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contras...

Apocalypse then

Apocalypse then »

Source: Apocalypse then : The Evolution of the North Atlantic Economy and the Global Crisis

Volume/Issue: 2011/212

Series: IMF Working Papers

Author(s): Trung Bui , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463902308

Keywords: Financial linkages, financial regulation, banking, bonds, bond, banking systems, financial market, Financial Aspects of Economic Integration, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation, General Financial Markets: Government Policy and Regulation,

The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire...

An Assessment of Estimates of Term Structure Models for the United States

An Assessment of Estimates of Term Structure Models for the United States »

Source: An Assessment of Estimates of Term Structure Models for the United States

Volume/Issue: 2011/247

Series: IMF Working Papers

Author(s): Carlos Medeiros , and Ying He

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

ISBN: 9781463923266

Keywords: Term structure models, term structure of interest rates, yield curves, yields on U.S. Treasury securities, equation, bond, covariance, bonds, equations, Financial Markets and the Macroeconomy,

The paper assesses estimates of term structure models for the United States. To this end, this paper first describes the mathematics underlying two types of term structure models, namely the Nelson-Siegel and Cox,...

Bond Markets As Conduits for Capital Flows

Bond Markets As Conduits for Capital Flows »

Source: Bond Markets As Conduits for Capital Flows : How Does Asia Compare?

Volume/Issue: 2006/238

Series: IMF Working Papers

Author(s): Pipat Luengnaruemitchai , and Barry Eichengreen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864984

Keywords: cross-border investment, gravity model, bond, bonds, bond transactions, bond returns, Financial Aspects of Economic Integration,

We use data on the extent to which residents of one country hold the bonds of issuers resident in another as a measure of financial integration or interrelatedness, asking how Asia compares with Europe and Latin Am...

Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?1

Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?1 »

Source: Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?

Volume/Issue: 2010/277

Series: IMF Working Papers

Author(s): Jay Surti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

ISBN: 9781455210848

Keywords: Covered bonds, mortgage-backed securities, personal bankruptcy, bond, bonds, mortgage, bond holders, mortgage loans, General Financial Markets: Government Policy and Regulation, Other Substantive Areas of Law: Other

This paper considers the case for mortgage covered bonds as an alternative to the originate-to-distribute mortgage funding model. It argues that the economic incentives provided to market participants under the cov...

Canadian Residential Mortgage Markets

Canadian Residential Mortgage Markets »

Source: Canadian Residential Mortgage Markets : Boring But Effective?

Volume/Issue: 2009/130

Series: IMF Working Papers

Author(s): John Kiff

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872774

Keywords: mortgage, regulations, mortgages, bonds, residential mortgage, mortgage loans,

Klyuev (2008) concluded that the Canadian market for housing finance is highly advanced and sophisticated, but financing options were somewhat limited, particularly at terms longer than five years. This paper argue...

Catalyzing Capital Flows

Catalyzing Capital Flows »

Source: Catalyzing Capital Flows : Do IMF-Supported Programs Work As Commitment Devices?

Volume/Issue: 2003/100

Series: IMF Working Papers

Author(s): Diego Saravia , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451852424

Keywords: signaling, bond, bond issuance, bonds, capital flows, international capital, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

An objective of IMF-supported programs is to help countries improve their access to international capital markets. In this paper, we examine the issue whether IMF-supported programs influence the ability of develop...

Commodity Prices and Inflation Expectations in the United States

Commodity Prices and Inflation Expectations in the United States »

Source: Commodity Prices and Inflation Expectations in the United States

Volume/Issue: 2012/89

Series: IMF Working Papers

Author(s): Oya Celasun , Lev Ratnovski , and Roxana Mihet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502633

Keywords: inflation rate, aggregate demand, treasury bonds, Prices, Business Fluctuations, and Cycles: Forecasting and Simulation,

U.S. monetary policy can remain extraordinarily accommodative only if longer-term inflation expectations stay well-anchored, including in response to commodity price shocks. We find that oil price shocks have a sta...

Corporate Bond Risk and Real Activity

Corporate Bond Risk and Real Activity »

Source: Corporate Bond Risk and Real Activity : An Empirical Analysis of Yield Spreads and Their Systematic Components

Volume/Issue: 2001/158

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451857580

Keywords: Investment grade bonds, corporate spreads, business cycle, GMM estimation, systematic risk, principal components analysis, regime-switching, Markov process, bonds, bond

This paper finds that the yield spread of investment-grade bonds relative to Treasuries, a proxy of default risk, predicts marginal changes in industrial production in the United States up to 12 months in the futur...

The Corporate Spread Curve and Industrial Production in the United States

The Corporate Spread Curve and Industrial Production in the United States »

Source: The Corporate Spread Curve and Industrial Production in the United States

Volume/Issue: 2002/8

Series: IMF Working Papers

Author(s): Jorge Chan-Lau , and Iryna Ivaschenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2002

ISBN: 9781451842524

Keywords: Investment grade bonds, corporate spreads, term structure, real activity, GMM estimation, bonds, bond, random walk, corporate bond, Prices

The term structure of domestic investment grade bond spreads - or corporate spread curve - contains useful information to predict future changes in industrial production, beyond the information already contained in...