| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4516 |
| DP4516 Interest Rate Determination in the Interbank Market | |
| Vitor Gaspar; Gabriel Pérez-Quirós; Hugo Rodriguez Mendizabal | |
| 发表日期 | 2004-08-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper provides a study of bond yield differentials among EU eurobonds issued between 1991 and 2002. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premia which increase with the debt, deficit and debt-service ratio and depend positively on the issuer's relative bond market size. Global investors' attitude towards credit risk, measured as the yield spread between low grade US corporate bonds and government bonds, also affects bond yield spreads between EU countries and Germany/USA. The start of the European Monetary Union had significant effects on the bond pricing of the member states. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Asset pricing Determination of interest rates Fiscal policy Government debt |
| URL | https://cepr.org/publications/dp4516 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533461 |
| 推荐引用方式 GB/T 7714 | Vitor Gaspar,Gabriel Pérez-Quirós,Hugo Rodriguez Mendizabal. DP4516 Interest Rate Determination in the Interbank Market. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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