Authors: Nina Boyarchenko and Leonardo Elias
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Staff Reports
The Good, the Bad, and the Ugly of International Debt Market Data
Number 1074
October 2023 Revised December 2023
October 2023 Revised December 2023
JEL classification: G15
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.
Author Disclosure Statement(s)
Nina Boyarchenko
The author declares that she has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Leonardo Elias
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
The author declares that she has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Leonardo Elias
The author declares that he has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.
Suggested Citation:
Boyarchenko, Nina and Leonardo Elias. 2023. “The Good, the Bad, and the Ugly of International Debt Market Data.” Federal Reserve Bank of New York Staff Reports, no. 1074, October. https://doi.org/10.59576/sr.1074
Boyarchenko, Nina and Leonardo Elias. 2023. “The Good, the Bad, and the Ugly of International Debt Market Data.” Federal Reserve Bank of New York Staff Reports, no. 1074, October. https://doi.org/10.59576/sr.1074
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