Intermediary Balance Sheets and the Treasury Yield Curve
收藏NBER2022-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w30222
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资源简介：
We document a regime change in the Treasury market post-Global Financial Crisis (GFC): dealers switched from net short to net long Treasury bonds. We construct net-long and netshort curves that account for balance sheet and financing costs, and show that actual yields moved from the net short curve
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美国国家经济研究局创建时间：
2022-07-01
