NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Sovereign Bond Prices, Haircuts and Maturity

Tamon Asonuma, Dirk Niepelt, Romain Rancière

NBER Working Paper No. 23864
Issued in September 2017

---- Acknowledgements ----

The authors are grateful to Christoph Trebesch for kindly providing the data. The authors thank Fernando Broner, Luis Catao, Marcos Chamon, Satyajit Chatterjee, Xavier Debrun, Raphael Espinoza, Raquel Fernández, Atish Rex Ghosh, Anastasia Guscina, Juan Carlos Hatchondo, Olivier Jeanne, Luc Laeven, Alberto Martin, Leonardo Martinez, Michael G. Papaioannou, Fabrizio Perri, Guido Sandleris, Damiano Sandri, Sergio Schmukler, Christoph Trebesch, Adrien Verdelhan, Pablo Winant, Mark Wright, Jeromin Zettelmeyer, and participants at 2015 Barcelona GSE Summer Forum (International Capital Flows), IMF ICD, IMF RES, 2016 North American Winter Meeting of the Econometric Society (San Francisco), UC Santa Cruz, and Univ. Osaka for comments and suggestions. The views expressed in this paper are those of the authors and need not reflect the views or the policy of the International Monetary Fund or the National Bureau of Economic Research. This Paper was also published as IMF Working Paper 17/119.

---- Disclosure of Financial Relationships for Dirk Niepelt ----

The views expressed herein are those of the authors and do not necessarily reflect the views of the IMF, its Executive Board, IMF management, or the National Bureau of Economic Research.

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