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The Good, the Bad, and the Ugly of International Debt Market Data

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  • Boyarchenko, Nina
  • Elias, Leonardo

Abstract

Comprehensive granular data on firms' access to international credit markets and its determinants is instrumental in answering a wide set of questions in international macroeconomics and finance. We describe how to put together data on primary market issuance and secondary market pricing, how to track debt securities over their lifetimes on firms' balance sheets, and how to match bond-level information to financial statements of the ultimate corporate parents. We illustrate the importance of using comprehensive data on corporate bonds over their lifecycle by documenting a high propensity of early maturity, procyclicality of the propensity to prepay, and a resulting procyclicality of effective time-to-maturity.

Suggested Citation

  • Boyarchenko, Nina & Elias, Leonardo, 2024. "The Good, the Bad, and the Ugly of International Debt Market Data," CEPR Discussion Papers 18746, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:18746
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    More about this item

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • F30 - International Economics - - International Finance - - - General

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