Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/284034 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Staff Report No. 1074
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
Comprehensive granular data on firms' access to international credit markets and its determinants is instrumental in answering a wide set of questions in international macroeconomics and finance. We describe how to put together data on primary market issuance and secondary market pricing, how to track debt securities over their lifetimes on firms' balance sheets, and how to match bond-level information to financial statements of the ultimate corporate parents. We illustrate the importance of using comprehensive data on corporate bonds over their lifecycle by documenting a high propensity of early maturity, procyclicality of the propensity to prepay, and a resulting procyclicality of effective time-to-maturity.
Schlagwörter: 
debt markets
corporate capital structure
bond spreads
JEL: 
G15
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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