How Long to Read The Premia on State-Contingent Sovereign Debt Instruments

How Long Does it Take to Read The Premia on State-Contingent Sovereign Debt Instruments?

It takes the average reader and 49 minutes to read The Premia on State-Contingent Sovereign Debt Instruments by Deniz Igan

Assuming a reading speed of 250 words per minute. Learn more

Description

State-contingent debt instruments such as GDP-linked warrants have garnered attention as a potential tool to help debt-stressed economies smooth repayments over business cycles, yet very few studies of the empirical properties of these instruments exist. This paper develops a general f ramework to estimate the time-varying risk premium of a state-contingent sovereign debt instrument. Our estimation framework applied to GDP-linked warrants issued by Argentina, Greece, and Ukraine reveals three stylized facts: (i) the risk premium in state-contingent instruments is high and persistent; (ii) the risk premium exhibits a pro-cyclical pattern; and (iii) the liquidity premium is higher and more volatile than that for plain-vanilla government bonds issued by the same sovereign. We then present a model in which investors fear ambiguity and that can account for the cyclical properties of the risk premium.

How long is The Premia on State-Contingent Sovereign Debt Instruments?

The Premia on State-Contingent Sovereign Debt Instruments by Deniz Igan is 48 pages long, and a total of 12,384 words.

This makes it 16% the length of the average book. It also has 15% more words than the average book.

How Long Does it Take to Read The Premia on State-Contingent Sovereign Debt Instruments Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 7 minutes to read The Premia on State-Contingent Sovereign Debt Instruments aloud.

What Reading Level is The Premia on State-Contingent Sovereign Debt Instruments?

The Premia on State-Contingent Sovereign Debt Instruments is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Premia on State-Contingent Sovereign Debt Instruments?

The Premia on State-Contingent Sovereign Debt Instruments by Deniz Igan is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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