model-free extracted SDFs perform better than existing factor models for bonds and stocks By construction, under the assumption of frictionless markets,
How%20Integrated.pdf
Capital gains taxes, for example, influence decisions to trade stocks and bonds The financial market friction need not be a monetary cost:
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(Baa) and highest-rated (Aaa) investment-grade corporate bonds The shaded vertical bars denote NBER-dated recessions of frictionless financial markets
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According to frictionless no-arbitrage theory, changes in corporate yield spreads occur be- bargaining frictions in the corporate bond market
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of a Frictionless Bond Market* Abstract An “expansionary” monetary policy that increases the growth rate of bank reserves is
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2 avr 2020 · In frictionless markets, the implied repo rate that an investor would earn by buying the cash bond and delivering it in fulfilment of the
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of emerging market bonds: how are they related?* month in frictionless competitive markets at prices reported at the end of the
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6 fév 2021 · possible is a testament to just how frictionless trading stocks why, compare the markets for bonds and property with eq- uities
The-Economist_The-New-Epoch-for-Retail-Investors-is-Just-Beginning_Alice-Fulwood_6-February-2021.pdf