05161nam 2200637Ia 450 991045274270332120200520144314.01-4755-2422-61-4755-9322-8(CKB)2550000001041536(EBL)1607088(SSID)ssj0000943953(PQKBManifestationID)11503131(PQKBTitleCode)TC0000943953(PQKBWorkID)10983799(PQKB)11066690(MiAaPQ)EBC1607088(Au-PeEL)EBL1607088(CaPaEBR)ebr10661223(OCoLC)820489145(EXLCZ)99255000000104153620121206d2012 uy 0engur|n|---|||||txtccrTracking global demand for advanced economy sovereign debt[electronic resource] /prepared by Serkan Arslanalp and Takahiro TsudaWashington, D.C. International Monetary Fundc20121 online resource (63 p.)IMF working paper ;WP/12/284Description based upon print version of record.1-4755-2106-5 1-4755-9640-5 Includes bibliographical references.Cover; Contents; Executive Summary; I. Introduction; II. Motivation; III. Methodology for Sovereign Investor Base Estimates; A. Overview; Tables; 1. Sample of Countries; 2. Summary of Data Sources; Figures; 1. Summary of Methodology; 3. Construction of General Government Gross Debt on a Consolidated Basis for Non-European Countries, end-2011; 2. Advanced Economies: Holders of Government Debt, end-2011; 4. Valuation of Debt Securities in Various Databases; B. Estimation Methodology for Each Investor Type; 5. Estimation of Foreign Central Bank Holdings of Government Debt, end-2011C. Robustness Checks and AdjustmentsD. Limitations and Extensions; IV. Key Trends in The Post-Crisis Period; 3. Foreign Holdings of Government Debt by Country of Origin, 2004-11; A. How Did Foreign Demand Change?; 4. Advanced Economies: Foreign Investors as an Investor Class, 2004-11; Boxes; 1. Country Groups; 5. Advanced Economies: Foreign Share in Government Debt Stock, 2004-11; 6. Advanced Economies: Foreign Net Purchases and Sales of Government Debt, 2008-11; 7. Euro and Non-Euro Area: Foreign Holders of Government Debt; 8. Advanced Economies: Changes in Sovereign Credit Ratings, 2004-11B. How Did Foreign Demand Change by Investor Type?9. Euro and Non-Euro Area Countries: Foreign Net Purchases of Government Debt; 10. Advanced Economies: Country Allocation of Foreign Investors, 2004-11; 11. Advanced Economies: Cumulative Net Foreign Purchases of Government Debt; 12. Advanced Economies: Foreign Investors' Portfolio Reallocation in 2011; C. How Did Domestic Investors React to Falls in Foreign Demand?; 13. Foreign Investors Position and Sovereign Downgrades, 2004-11; D. How Did Domestic Bank Demand Change More Generally?14. Advanced Economies: Bank Holdings of Own Government Debt, 2004-1115. Euro and Non-Euro Area: Bank Holdings of Own Government Debt, 2008-11; 16. Euro Area: Bank Holdings of Own Government Debt Securities, 2007-11; V. Sovereign Investor Base Risk Indicators; A. Sovereign Funding Shock Scenarios; 2: Methodology of Sovereign Funding Shock Scenarios; 17. Advanced Economies: Sovereign Funding Shock Scenarios; B. Investor Base Risk Index; 6. Risk Scores by Investor Type; 18. Advanced Economies: Investor Base Risk Index, 2008-11; 19. A Stylized Framework for Sovereign Risk Analysis20. Advanced Economies: Application of Investor Base Risk Index, end-2009C. Foreign Investor Position Index; 21. Advanced Economies: Foreign Investor Position Index (FIPI), end-2011; VI. Conclusion; Annex Figures; 1. Advanced Economies: Holders of Government Debt, 2004-11; 2. Advanced Economies: Cumulative Purchases of Government Debt, since end-2007; ReferencesRecent events have shown that sovereigns, just like banks, can be subject to runs, highlighting the importance of the investor base for their liabilities. This paper proposes a methodology for compiling internationally comparable estimates of investor holdings of sovereign debt. Based on this methodology, it introduces a dataset for 24 major advanced economies that can be used to track US42 trillion of sovereign debt holdings on a quarterly basis over 2004-11. While recent outflows from euro periphery countries have received wide attention, most sovereign borrowers have continued to increase IMF Working PapersDebts, PublicDeveloped countriesFinance, PublicDeveloped countriesElectronic books.Debts, PublicFinance, PublicArslanalp Serkam1976-879391Tsuda Takahiro879392MiAaPQMiAaPQMiAaPQBOOK9910452742703321Tracking global demand for advanced economy sovereign debt1963646UNINA01524nam 2200253la 450 991048190980332120221108060900.0(UK-CbPIL)2090311216(CKB)5500000000086773(EXLCZ)99550000000008677320210618d1623 uy |duturcn||||a|bb|Zeevsche nachtegael, ende des selfs dryderley gesang geheel anders inder vvaerheyt verthoont, als de selve voor desen by sommighe uyt enckel mis-verstant verkeerdelijck is gheoordeelt. Door verscheydenen treffelijcke Zeeusche poëten by een gebracht; ende verciert met copere plaeten. Hier is noch by-ghevought een poëtisch vverck ghenaemt Tafereel van sinne-mal[electronic resource]Middelburg Jan Pietersz van de Venne, 1620-16251623Online resource ([8], 86, [4], 60, [4], 63, [1], [8], 114 [i.e.104] p, 4°)Reproduction of original in Koninklijke Bibliotheek, Nationale bibliotheek van Nederland.Anon815482Uk-CbPILUk-CbPILBOOK9910481909803321Zeevsche nachtegael, ende des selfs dryderley gesang geheel anders inder vvaerheyt verthoont, als de selve voor desen by sommighe uyt enckel mis-verstant verkeerdelijck is gheoordeelt. Door verscheydenen treffelijcke Zeeusche poëten by een gebracht; ende verciert met copere plaeten. Hier is noch by-ghevought een poëtisch vverck ghenaemt Tafereel van sinne-mal1951835UNINA