Using large panel data of public and private firms, this paper dissects the growth of bond financing in the Euro Area … through the lens of the cross-section of issuers. In recent years, the composition of bond issuers has shifted, with the entry …, holdings of ‘buy-and-hold’ bond investors are large in aggregate but small for weaker issuers. Nevertheless, the bond investors …

This paper provides the first empirical evidence that bank regulation is associated with cross-border spillover effects … of host-country regulation …

account, including fast pre-crisis credit growth, current account deficits, trade and financial openness, market regulation …

We study what makes government bonds a safe asset. Building on a sample of monthly changes in government bond yields in … changes in global risk (VIX). We find that inertia (whether the bond behaved as a safe asset in the past) and good …

studies global bonds to examine the effects of multimarket trading on corporate bond liquidity, prices, and the cost of debt … advantage of global bonds does not fully explain the yield differential. The findings imply that international corporate bond … markets are not fully integrated, and global bond offerings can reduce the cost of debt …

quantity-based indicators covering money, bond, equity and banking markets. Prior to aggregation, individual integration … indicators are harmonised by applying the probability integral transform. We find that financial integration in Europe increased …