Monetary integration and the cost of borrowing

TL;DR: In this paper, the authors evaluate the factors affecting the yield spread of a sample of Mexican bonds known as Cebures and find that only variables associated with the structure of the bond affect such yield spreads, not factors reflecting the financial strength of the issuing entity.

TL;DR: In this article, the authors explored the evolving relationship in the volatility of sovereign yields in the European Economic and Monetary Union (EMU) during the 2001-2010 period and found that transitory shifts in debt market sentiment tend to be less important determinants of bond-yield volatility than shocks to the underlying fundamentals.

TL;DR: In this article, the authors present details of Romania's R&D and innovation strategy by 2020, in line with the strategy adopted by the European Union in its "Horizon 2020" program in this area.

TL;DR: The authors analyzes cuales pueden ser los motives that subyacen a this fenomeno, and evidencia empirica sugiere que the relevancia de la liquidez and de las economias de escala ligadas al tamano del mercado han aumentado con la UME in todos los paises of la EU-15.

TL;DR: This article found that there is a home bias in national investment portfolios despite the potential gains from international diversification, and that the composition of the portfolio of foreign securities seems to reflect factors other than diversification of risk, such as cross-border capital flows and the high turnover rate on foreign equity investments relative to turnover on domestic equity markets.

TL;DR: The authors developed a multi-factor econometric model of the term structure of interest-rate swap yields, which accommodates the possibility of counterparty default, and any differences in the liquidities of the Treasury and Swap markets.

TL;DR: For example, Codogno et al. as mentioned in this paper found that the movements in yield differentials between euro zone government bonds explained by changes in international risk factors, as measured by banking and corporate risk premiums in the United States, are more pronounced for bonds issued by Italy and Spain.

TL;DR: In this paper, a dynamic equilibrium model of a multi-asset market with stochastic volatility and transaction costs is proposed, where the key assumption is that investors are fund managers, subject to withdrawals when fund performance falls below a threshold.