{"id":2964,"date":"2025-01-23T15:50:06","date_gmt":"2025-01-23T15:50:06","guid":{"rendered":"https:\/\/pension-research.is\/?p=2964"},"modified":"2025-05-09T11:17:23","modified_gmt":"2025-05-09T11:17:23","slug":"price-fyrirlestur-um-skuldabrefamarkad","status":"publish","type":"post","link":"https:\/\/pension-research.is\/en\/price-fyrirlestur-um-skuldabrefamarkad\/","title":{"rendered":"PRICE lecture in May on interconnectedness in financial markets"},"content":{"rendered":"<p><strong><span style=\"font-size: 16px;\">Celso Brunetti will give a lecture at the National Museum on 7 May from 12 til 13.30:<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 16px;\">Celso Brunetti<\/span><\/strong><\/p>\n<p style=\"text-align: center;\"><strong>Does interconnectedness improve market quality? Yes.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>We develop an alternative network structure, the assets network: assets are connected<br \/>\nif they are held by the same investors. We use several large datasets to build the assets<br \/>\nnetwork for the corporate bond market. Through careful identification strategies based<br \/>\non the COVID-19 shock and \u201cfallen angels,\u201d we find that interconnectedness improves<br \/>\nmarket quality especially during stress periods. Our findings contribute to the debate<br \/>\non the role of interconnectedness in financial markets and show that highly interconnected<br \/>\ncorporate bonds allow for risk sharing and require a lower compensation for risk.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">The meeting is open to the public.<\/p>\n<p style=\"text-align: center;\">Celso Brunetti is <span style=\"font-size: 16px;\">Assistant Director of Research and Statistics at the Federal Reserve system<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Slides can be accessed here: <a href=\"https:\/\/pension-research.is\/wp-content\/uploads\/2025\/01\/Interconnectedness_in_the_Corporate_Bond_Market_slides.pdf\">Interconnectedness_in_the_Corporate_Bond_Market_slides<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Celso Brunetti will give a lecture at the National Museum on 7 May from 12 til 13.30: &nbsp; Celso Brunetti Does interconnectedness improve market quality? Yes. &nbsp; &nbsp; We develop an alternative network structure, the assets network: assets are connected if they are held by the same investors. We use several large datasets to build [&hellip;]<\/p>","protected":false},"author":3,"featured_media":2970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-2964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","wpbf-post"],"acf":[],"_links":{"self":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/2964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/comments?post=2964"}],"version-history":[{"count":9,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/2964\/revisions"}],"predecessor-version":[{"id":3342,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/2964\/revisions\/3342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media\/2970"}],"wp:attachment":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media?parent=2964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/categories?post=2964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/tags?post=2964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}