search query: @author Lassak, G. / total: 1
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| Author: | Lassak, G. |
| Title: | Liquiditt am deutschen Rentenmarkt |
| Journal: | Zeitschrift für Betriebswirtschaft
1991 : JAN, VOL. 61:1, p. 75-86 |
| Index terms: | BOND MARKETS LIQUIDITY BANKING FEDERAL REPUBLIC OF GERMANY |
| Language: | ger |
| Abstract: | In the paper the liquidity of the German bond market is investigated. The number of consecutive trading days with identical security prices together with the associated price jumps is used as a measure of liquidity. As a result, an obvious segmentation of the German government bond market occurs. Illiquidities can result in price discrepancies between observed market prices and the "true" market prices of bonds. The magnitude of observed price jumps is determined by both liquidity and sensitivity to changes in interest rates. |
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