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Positive asymmetric information in volatile environments: The black market dollar and sovereign bond yields in Venezuela

Julio Sarmiento-Sabogal, Edgardo Cayon, María Collazos and Juan S. Sandoval

Research in International Business and Finance, 2017, vol. 41, issue C, 547-555

Abstract: We test the informational efficiency of Venezuelan USD sovereign bond yields when the black market exchange-rate premium (BMERP) changes.

Keywords: Venezuela; Sovereign bonds; Black markets exchange rate (search for similar items in EconPapers)
JEL-codes: F31 G10 G18 (search for similar items in EconPapers)
Date: 2017
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