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The determinants of sovereign bond liquidity during WWI

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  • Jopp, Tobias A.

Abstract

What was WWI’s impact on securities markets’ liquidity? Investigated is the cross-section of sovereign bonds traded in Amsterdam. Prime determinants of a bond’s wartime liquidity are its pre-war liquidity, above-median age, on-the-run status, and link to a minor war party.

Suggested Citation

  • Jopp, Tobias A., 2020. "The determinants of sovereign bond liquidity during WWI," Economics Letters, Elsevier, vol. 196(C).
    • Handle: RePEc:eee:ecolet:v:196:y:2020:i:c:s0165176520303372
    DOI: 10.1016/j.econlet.2020.109555
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic history; Financial markets; Liquidity; Sovereign bonds; WWI;
    All these keywords.

    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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