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Government bonds and their investors : what are the facts and do they matter? /
This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad have increased their presence in government bond markets. The financial crisis broke this trend. Domes...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/158. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 12/158eb | |
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| 049 | |a UAMI | ||
| 100 | 1 | |a Andritzky, Jochen R., |e author. | |
| 245 | 1 | 0 | |a Government bonds and their investors : |b what are the facts and do they matter? / |c prepared by Jochen R. Andritzky. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (30 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 347 | |a data file |2 rda | ||
| 490 | 1 | |a IMF working paper ; |v WP/12/158 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed Jun. 25, 2012). | ||
| 520 | |a This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad have increased their presence in government bond markets. The financial crisis broke this trend. Domestic financial institutions allocated a larger share of government securities in their portfolios, as Japan has done since its crisis in the 1990s. Increases in the share held by institutional investors or non-residents by 10 percentage points are associated with a reduction in yields by about 25 or 40 basis points, respectively. The data show a varied lead-lag relationship between bond yields and investor holdings. Portfolio balance estimates suggest that a change in statutory or regulatory holdings of government securities to the tune of 10 percent of the outstanding stock causes expected returns to decline by 7 to 25 basis points. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Fiscal Affairs Department." | ||
| 500 | |a "June 2012." | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. The Dataset; III. What are the Facts?; IV. Does the Investor Base Matter?; A. Background; B. How Is the Investor Base Related to Yields?; C. Do Portfolio Shifts Affect Expected Bond Returns?; V. Conclusions; References. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Government securities |z Group of Twenty countries. | |
| 650 | 0 | |a Government securities |z Europe. | |
| 650 | 0 | |a Stockholders |z Group of Twenty countries. | |
| 650 | 0 | |a Stockholders |z Europe. | |
| 650 | 6 | |a Effets publics |z Europe. | |
| 650 | 7 | |a Government securities |2 fast | |
| 650 | 7 | |a Stockholders |2 fast | |
| 651 | 7 | |a Europe |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJxCxPbbk4CPJDQJb4r6rq | |
| 651 | 7 | |a Group of Twenty countries |2 fast | |
| 710 | 2 | |a International Monetary Fund. |b Fiscal Affairs Department, |e issuing body. | |
| 758 | |i has work: |a Government bonds and their investors (Text) |1 https://id.oclc.org/worldcat/entity/E39PCFrk7Phmh7RdrMhCMkF3Qq |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Andritzky, Jochen R. |t Government Bonds and Their Investors: What Are the Facts and Do They Matter? |d Washington : International Monetary Fund, ©2012 |z 9781475504514 |
| 830 | 0 | |a IMF working paper ; |v WP/12/158. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1606803 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1606803 | ||
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