We examine the impact of Chinese monetary policies on the excess bond yields of Chinese local bonds issued by Chinese … local government entities. We find that an expansion in M2 generally raises the excess yields of the bonds of Chinese local … government entities, and the impact is amplified for local bonds issued by local governments that are characterized as having a …

bonds), on local bonds issued by Chinese local government entities. We find that an expansion in M2 generally raises the … excess yields on bonds issued by local government entities, and the impact is amplified for bonds issued by the local … results confirm that excess yield on local bonds can be an indicator of market risk of local government debts and the …

that the central bank's actions influence the long-term interest rate on government bonds mainly through the short …

This paper employs a Keynesian perspective to explain why Japanese government bonds' (JGBs) nominal yields have been …