The Resource Government bonds and their investors : what are the facts and do they matter?, prepared by Jochen R. Andritzky

Government bonds and their investors : what are the facts and do they matter?, prepared by Jochen R. Andritzky

Label
Government bonds and their investors : what are the facts and do they matter?
Title
Government bonds and their investors
Title remainder
what are the facts and do they matter?
Statement of responsibility
prepared by Jochen R. Andritzky
Creator
Contributor
Author
Issuing body
Subject
Language
eng
Summary
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
Member of
Cataloging source
DJB
Government publication
international or intergovernmental publication
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 No. 12/158eb
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/12/158
Label
Government bonds and their investors : what are the facts and do they matter?, prepared by Jochen R. Andritzky
Publication
Note
  • "Fiscal Affairs Department."
  • "June 2012."
  • Title from PDF title page (IMF Web site, viewed Jun. 25, 2012)
Bibliography note
Includes bibliographical references
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
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
Control code
ocn796619696
Extent
1 online resource (30 pages)
Form of item
online
Isbn
9781475570052
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/recordID
.b29259824
Specific material designation
remote
System control number
  • (OCoLC)796619696
  • pebcs1475570058

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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