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Description
International Finance Discussion Papers: Tips from Tips: The Informational Content of Treasury Inflation-Protected Security PricesTIPS breakeven inflation rate, defined as the difference between nominal and TIPS yields of comparable maturities, is potentially useful as a real time measure of market inflation expectations. In this paper, we provide evidence that a fairly large TIPS liquidity premium existed until recently, using a multifactor no arbitrage term structure model estimated with nominal and TIPS yields, inflation and survey forecasts of interest rates. Ignoring the
TIPS breakeven inflation rate, defined as the difference between nominal and TIPS yields of comparable maturities, is potentially useful as a real-time measure of market inflation expectations. In this paper, we provide evidence that a fairly large TIPS liquidity premium existed until recently, using a multifactor no-arbitrage term structure model estimated with nominal and TIPS yields, inflation and survey forecasts of interest rates. Ignoring the TIPS liquidity premiums leads to counterintuitive implications for inflation expectations and inflation risk premium, and produces large pricing errors for TIPS. In contrast, models incorporating a TIPS liquidity factor generate much better fit for these variables and reveal a TIPS liquidity premium that was until recently quite large ( 1%) but has come down in recent years, consistent with the common perception that TIPS market grew and liquidity conditions improved. Our results indicate that after taking proper account of the liquidity conditions in the TIPS market, the movement in TIPS breakeven inflation rate can provide useful information for identifying real yields, expected inflation and inflation risk premium.
Binding Type: Paperback
Publisher: Bibliogov
Published: 02/05/2013
ISBN: 9781288704507
Pages: 74
Weight: 0.33lbs
Size: 9.69h x 7.44w x 0.15d
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Product Reviews
★★★★★ 5
Exceeded expectations!
Size: Mini Size
This ball launcher has been the best thing we ever bought. We have a golden retriever who of course, like most goldens, is ball obsessed. I have thrown my fair share. I decided to see if my golden was smart enough to use this so we pulled the trigger. It took 3 days of on an off training and BAM! We are in business! This launcher has been a CHAMP! We've had it a month now and it has survived over and over of constant use. The balls are covered in pure slobber and nastiness but the machine keeps going. We do keep it plugged in and only use it indoors. Sometimes the ball does get stuck but it's easy to push it back through. The only complaint I have, and it's no fault to the company, but we are already on our 2nd pack of replacement balls. Honestly, it's been worth it. I probably should have purchased the bigger size but I didn't want to invest in it if he wouldn't use it. Definitely regretting it now!
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Reviewed in the United States on January 27, 2026
★★★★★ 5
Best system ever !!
My 12 yr. old Toy Poodle was already trained to a 'piddle pad' , so this system was easy to introduce. I simplly placed her piddle mat in the sturdy sided piddle box and she used it immediately. With a straight lower pad holder, she was peeing at the side and I was constantly having to clean the surrounding floor . Now, it is all contained and she is happy with her new 'piddle place'. And, I am very happy too !!
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Reviewed in the United States on June 3, 2025
★★★★★ 5
Great!
Took my dogs a couple days to get used to using it but works well, great for apartment living !
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Reviewed in the United States on February 28, 2026
★★★★★ 5
Perfect for dachshund
This is the absolute perfect size and with sides. I have one without sides and it's great but my dog has decided to stand on the edge and sometimes pee goes off or poop. Also he will be excited when I get home and try to pee fast and run and it gets on the floor. This will slow him down a little. The grid is almost too small and it holds pee. I have to wipe it everytime with a paper towel. I have a 10lb dachshund. He is long and he has plenty of room. I have 23x23 pads. I fold one side of the extra plastic down on the pad and it fits perfectly. I highly recommend this one!!!
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Reviewed in the United States on March 6, 2024
★★★★★ 1
Not for small dogs
Not meant for small dogs at all. holes are just the size for the nails to slip in and get stuck. my dog tried to walk off pad and ripped his nail off! I do not recommend
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Reviewed in the United States on November 13, 2025