Fragmentation and heterogeneity in the euro-area corporate bond market: Back to normal?
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- 作者：Andrea Zaghini ; andrea.zaghini@bancaditalia.it" class="auth_mail" title="E-mail the corresponding author
- 关键词：Corporate bond market ; Sovereign debt crisis ; Financial fragmentation
- 刊名：Journal of Financial Stability
- 出版年：2016
- 出版时间：April 2016
- 年：2016
- 卷：23
- 期：Complete
- 页码：51-61
- 全文大小：541 K
文摘
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Assessment of the degree of market fragmentation in the euro-area bond market.
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Analysis of the determinants of the risk premium paid on bonds at origination.
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Ability to isolate idiosyncratic country-specific effects.
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Evidence of possible credit risk misjudgement in the market.
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Low fragmentation is coupled with a still high heterogeneity.