The Long-Run Impact of Sovereign Yields on Corporate Yields in Emerging Markets /
We analyze the long-run impact of emerging-market sovereign bond yields on corporate bond yields, finding that the average pass-through is around one. The pass-through is larger in countries with greater sovereign risks and where sovereign bonds are more liquid. It is also greater for corporate bond...
| Main Author: | Li, Delong |
|---|---|
| Other Authors: | Magud, Nicolas, Werner, Alejandro, Witte, Samantha |
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2021.
|
| Series: | IMF Working Papers; Working Paper ;
No. 2021/155 |
| Subjects: | |
| Online Access: | Full text available on IMF |
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