The determinants of sovereign bond liquidity during WWI

Tobias A. Jopp

Economics Letters, 2020, vol. 196, issue C

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.

Keywords: Economic history; Financial markets; Liquidity; Sovereign bonds; WWI (search for similar items in EconPapers)
JEL-codes: G12 N24 N44 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:196:y:2020:i:c:s0165176520303372

DOI: 10.1016/j.econlet.2020.109555

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