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[null,"1.","Record Nr.",null,"UNINA9910453112803321"]
[null,null,"Autore",null,"Poghosyan Tigran"]
[null,null,"Titolo",null,"Long-run and short-run determinants of sovereign bond yields in advanced economies [[electronic resource] /] / Tigran Poghosyan"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C., : International Monetary Fund, c2012"]
[null,null,"ISBN",null,"1-4755-7979-9"]
[{"$nulls":4},"1-4755-4279-8"]
[{"$nulls":4},"1-283-94768-4"]
[null,null,"Descrizione fisica",null,"1 online resource (27 p.)"]
[null,null,"Collana",null,"IMF working paper ; ; WP/12/271"]
[null,null,"Soggetti",null,"Government securities - Econometric models"]
[{"$nulls":4},"Rate of return - Econometric models"]
[{"$nulls":4},"Cointegration"]
[{"$nulls":4},"Electronic books."]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","At head of title: Fiscal Affairs Department -- verso of t.p."]
[{"$nulls":4},"\"November 2012\"-- verso of t.p."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references (p. 15-16)."]
[null,null,"Nota di contenuto",null,"Cover; Contents; I. Introduction; II. Determinants of Sovereign Bond Yields: Review of Existing Studies; A. Theoretical Considerations; B. Empirical Evidence; III. Empirical Methodology and Data; A. Empirical Methodology; B. Data; IV. Estimation Results; A. Baseline Specification; B. Robustness Checks; C. Are Financial Markets \"Overreacting\"?; V. Conclusions; References; Tables; 1. Description of Variables and their Sources; 2. Descriptive Statistics; 3. Panel Unit Root Tests; 4. Baseline Regressions; 5. Robustness Checks; Figures"]
[{"$nulls":4},"1. Selected Euro area Economies: Real 10-Year Sovereign Bond Yields2. Selected Euro Area Economies: Debt-to-GDP Ratio; 3. Selected Euro Area Economies: Comparison of Predicted and Actual Long-Run Real Bond Spreads vis-à-vis Germany (first half of 2012); 4. Selected Euro Area Economies: Comparison of Predicted and Actual Long-Run Real Bond Spreads vis-à-vis Germany (1999-2009, average)"]
[null,null,null,"Sommario/riassunto","We analyze determinants of sovereign bond yields in 22 advanced economies over the 1980-2010 period using panel cointegration techniques. The application of cointegration methodology allows distinguishing between long-run (debt-to-GDP ratio, potential growth) and short-run (inflation, short-term interest rates, etc.) determinants of sovereign borrowing costs. We find that in the long-run, government "]
[{"$nulls":4},"bond yields increase by about 2 basis points in response to a 1 percentage point increase in government debt-to-GDP ratio and by about 45 basis points in response to a 1 percentage point increase i"]