The Equilibrium Yield Curve for Government Securities

1979 ◽  
Vol 35 (3) ◽  
pp. 31-39 ◽  
Author(s):  
Herbert F. Ayres ◽  
John Y. Barry
Keyword(s):  
Yield Curve ◽  
Equilibrium Yield

Harvesting at the Cohort and Population Levels

2020 ◽  
pp. 185-204
Author(s):  
Michael J. Fogarty ◽  
Jeremy S. Collie
Keyword(s):  
Multiple Equilibria ◽  
Yield Curve ◽  
Size Structure ◽  
Single Species ◽  
Reference Points ◽  
Stable States ◽  
Equilibrium Yield ◽  
Stock Recruitment ◽  
Age Structured ◽  
Dynamics Models

This chapter explores dynamical behaviors that go beyond globally stable outcomes to include alternate stable states, and non-equilibrium behaviors. The possibility of multiple equilibria emerges quite readily in models with non-linear harvesting functions. In practice, most fisheries management protocols at least implicitly assume that harvested populations have well-behaved stable equilibrium properties. If this is not the case, then sudden changes (including collapse) can occur and be totally unanticipated. This chapter describes the spectrum of single-species harvesting models from biomass dynamics models that do not include age or size structure, to delay–difference models with a simple demographic structure, to full age-structured models. Dynamic-pool models combine yield per recruit and egg-per-recruit with a stock-recruitment model to obtain an equilibrium yield curve. These single-species models are used to estimate biological reference points with which to assess stock status.

Modeling the green bond yield on bond offering

2020 ◽  
Vol 26 (12) ◽  
pp. 2858-2878
Author(s):  
M.I. Emets
Keyword(s):  
Linear Regression ◽  
Yield Curve ◽  
Bond Market ◽  
Third Party ◽  
Bond Pricing ◽  
Market Development ◽  
Fair Price ◽  
Lower Yield ◽  
Yield Curves ◽  
Bond Yield

Subject. The article addresses the green bond pricing as compared to bonds other than green ones. Objectives. The aims are to determine how the fact that a bond is identified as a green one, the issue amount, and the availability of third-party verification, influence the yield to maturity; to make recommendations on effective green bond pricing. Methods. The study employs econometric testing of hypotheses, using the multiple linear regression. The sample includes 318 green and 1695 conventional bonds. Results. Green bonds have a lower yield to maturity in comparison with conventional bonds. The yield to maturity of green bonds with third-party verification is lower, as contrasted with green bonds without verification. Conclusions. The next step in the green bond market development is creating a benchmark yield curve for sovereign green bonds, with parallel issuance of conventional, non-green bonds. The yield curve is crucial for effective bond pricing. Two yield curves, i.e. for green and non-green bonds, will enable investors to estimate the fair price on issuance, as well as to define, if there is a difference in pricing.

An Affine Macro-Factor Model of the UK Yield Curve

2007 ◽  
Author(s):  
Peter M. Lildholdt ◽  
Nikolaos Panigirtzoglou ◽  
Chris Peacock
Keyword(s):  
Yield Curve ◽  
Factor Model ◽  
The Uk
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