The good, the bad, and the ugly of international debt market data

Arbeitspapier

Comprehensive granular data on firms' access to international credit markets and its determinants is instrumental in answering a wide set of questions in international macroeconomics and finance. We describe how to put together data on primary market issuance and secondary market pricing, how to track debt securities over their lifetimes on firms' balance sheets, and how to match bond-level information to financial statements of the ultimate corporate parents. We illustrate the importance of using comprehensive data on corporate bonds over their lifecycle by documenting a high propensity of early maturity, procyclicality of the propensity to prepay, and a resulting procyclicality of effective time-to-maturity.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Staff Report ; No. 1074

Klassifikation und Themen

• Klassifikation: Wirtschaft ; International Financial Markets
• Thema: debt markets ; corporate capital structure ; bond spreads

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Boyarchenko, Nina ; Elias, Leonardo
• Ereignis: Veröffentlichung
• (wer): Federal Reserve Bank of New York
• (wo): New York, NY
• (wann): 2023

Weitere Informationen

• DOI: doi:10.59576/sr.1074
• Handle: http://hdl.handle.net/10419/284034
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ