Taxes, Liquidity Risk, and Credit Spreads: Evidence from the German Bond Market

• Autorzy: Daniel Lange
• Języki publikacji: EN

Abstrakty

EN

The article presents a study on liquidity effect on the German bond market. It examines the effect on prices of the German bonds following the introduction of Euro in 1999. It mentions that liquidity influences asset prices because investors need compensation to gear the transaction costs. It adds that through the comparison of spot rates on covered and government bonds, liquidity effect can be identified. It states that the study supports the idea that tax effects are present in the market.(original abstract)

Słowa kluczowe

EN

Bond market; Capital market; Money market; Financial liquidity

PL

Rynek obligacji; Rynek kapitałowy; Rynek pieniężny; Płynność finansowa

• Czasopismo: Journal of Economics & Management / University of Economics in Katowice
• Rocznik: 2008
• Numer: nr 4
• Strony: 59--71

Twórcy

autor

Daniel Lange

• Wiesbaden Business School, Germany

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