Impact of flight to liquidity on bonds important for policy-makers, study finds
Paper analyses liquidity premiums in three eurozone sovereign bond markets
The timing and goals of some policy measures taken during the eurozone debt crisis could be "better understood" by taking into account "intensity of flight to liquidity episodes", according to a working paper published by the Bank of Spain.
In Flight to liquidity flows in the euro area sovereign debt crisis, published today, Juan Ángel García and Ricardo Gimeno analyse liquidity premia in three eurozone sovereign bond markets (Spain, Germany and France) between 2008 and 2013, concluding "the
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