期刊
FINANCE RESEARCH LETTERS
卷 43, 期 -, 页码 -出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.frl.2021.102011
关键词
Government bond market volatility; COVID-19 pandemic; Coronavirus outbreak; Government policy responses; Containment and closure; Economic support; Sovereign bonds
资金
- National Science Centre of Poland [2015/19/B/HS4/00378]
Effective government policies can reduce uncertainty in sovereign bond markets, and policy responses during COVID-19 can help curb bond market volatility. Research shows that government interventions significantly reduce local sovereign bond volatility, mainly driven by economic support policies.
Effective government policies may reduce uncertainty in sovereign bond markets. Can policy responses help to curb bond market volatility during the COVID-19 pandemic? To answer this, we examine data from 31 developed and emerging markets during the coronavirus outbreak in 2020. We demonstrate that government interventions substantially reduce local sovereign bond volatility. The effect is mainly driven by economic support policies; the containment and closure regulations and health system interventions play no major role.
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