originating from a perception risk by international investors that lead to "unjustifiably" high borrowing costs. Against this … there are other factors overlooked by the literature that matter for the risk pricing by international investors. In that …

-hedged corporate borrowing stands in contrast to the persistent deviation from covered interest parity in risk-free rates. Second, we …

This paper examines the determinants of sub-national governments risk premia using secondary market data for U ….S., Canada, Australia and Germany. It finds that, as for central governments, fiscal fundamentals matter in the pricing of risk … guarantees from the central government. Specifically, we show that in pricing risk premia of sub-national governments, markets …

vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk …

drop in liquidity and a spike in risk aversion contributed to high spreads in Central and Eastern and South … periphery. The significant drop in the CDS spreads between July 2012 and December 2012 was mainly driven by a decline in risk …

lower risk based on price behavior alone. In response, I introduce a two-pillar (price and quantity) approach for financial … surveillance toolkit, risk taking behavior, and financial vulnerabilities more generally, can also be reflected in subtler, non … associated with below average risk premia (captured by the ‘pricing pillar') and unusually elevated patterns of issuance, trading …

business risk of asset managers acts as strong motivation for institutional herding and ‘rational bubble-riding.' Two key …

Inflation has been below the Federal Reserve's target for much of the past 20 years, creating worries that inflation … forecasters, household and business surveys, and the market for Treasury inflation protected securities (TIPS) to estimate long …-run inflation expectations. These have fallen notably in the past few years (to roughly 1.9 percent for CPI inflation, well below …