This paper analyzes on-the-run securities in the TIPS market by comparing pairs of these bonds with identical maturities, but separate vintages. We find a small, and positive premium. You can read the working paper here.
We study the effects of changes in the foreign-held share of Mexican sovereign bonds on their liquidity premiums. We find that recent increases in foreign holdings of these securities have played a significant role in driving up their liquidity premiums. The working paper is available here.
This paper analyzes on-the-run securities in the TIPS market by comparing pairs of these bonds with identical maturities, but separate vintages. We find a small, and positive premium. You can read the working paper here.
We study the effects of changes in the foreign-held share of Mexican sovereign bonds on their liquidity premiums. We find that recent increases in foreign holdings of these securities have played a significant role in driving up their liquidity premiums. The working paper is available here.
Mike Tubbs and I have written our thoughts on recent Fed actions as well as bail outs. We discuss negative interest rates, unconventional monetary policy, joint Treasury/Fed actions, and corporate bailouts. You can get the pdf here.
If you are like me, you have probably found it difficult to focus on anything besides the ongoing pandemic. I started writing out my thoughts on the economic response to the virus to try to productively point my distraction towards something. I figured I may as well share it with the world. Note that I have been working on this post over the course of the last week, so aspects of it are already outdated. You can get the pdf here.