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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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4.8 ★★★★★
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Product Reviews
★★★★★ 5
Inexpensive doesn’t mean cheap.
Color: Black/Orange
After 10 months, zero complaints. Well, I got rid of the horrible NATO strap 🙄. That’s a personal preference. Easy to swap out to whatever you like. Keeps accurate time meaning it’s the same time. I’m not micro analyzing it and the seconds gained/lost. It has a confident look and feel and makes you feel good when wearing it. Sure it’s not high priced but it’s not cheap. Very comfortable, light and not unincumbered. If this is what you’re looking at, you’d be satisfied. Great looking, durable and simple watch. Full confidence.
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Reviewed in the United States on October 25, 2025
★★★★★ 3
Budget Seiko Prospex this is not
Color: Black/Orange
Bought this as a cheap work watch, but I guess all the budget went into the solar technology.
No date adjust feature, gotta crank the crown over and over to adjust the date. (Also no screw-down crown, but that's expected at this price)
Fake diver bezel. Lol why? Cringe as heck. Should of just put a compass bezel on there instead tbh.
Cheap plastic crystal, scratches and mars just by looking at it.
Okay NATO strap. Falls apart quickly, but it's easily replaceable with a better quality one.
Decent lume on the hands, but none on the hour markers even though it looks like there is.
Looks cool.
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Reviewed in the United States on June 13, 2025
★★★★★ 5
Simplicity
Color: Black/Orange
This watch was received exactly as advertised. First off the watch is economical compared to other watches that advertise the same details. I will say that I have gone through numerous Luminox watches only to be disappointed. This watch fits the bill. It does have solar cells which mean it needs to be exposed to light to keep running, not a problem. Three minutes under my surefire light I am golden. The bezel doesn't rotate actually no big deal for me. I have always required that the bezel moves not anymore after having a bezel that rotates I use it next to never. Here's why, the more I rotate the bezel the more the numbers wear off. The strap on the watch with the catches for the strap are perfect. They actually hold the watch strap in place in lieu of like other big name brands that just flop and slide. As far as everyday use goes this watch is my go to. To be honest I have purchased three. This is the only watch I will wear moving forward, yeah the glass my scratch but even the big names like the Luminox I spoke of earlier scratches too.
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Reviewed in the United States on April 4, 2026
★★★★★ 5
Well made
Size: 15.5" Neck 32"-33" Sleeve, Color: Tomato
Great color, nice quality, fits as expected
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Reviewed in the United States on May 4, 2023
★★★★★ 4
Great material. Sadly no pocket
The fit is not tailored. So if you are slim around the waist it will feel baggy. But enough material to tuck in or go around a large waist. The material is not stiff. Wash and dried on warm. This has been worn 2 times. If you take it out of dryer and hang up, the wrinkles come right out! The only drawback: No pocket. My wife didn't notice when she ordered, we threw package away otherwise would return, because it was a little pricey. But nice clean look!
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Reviewed in the United States on April 14, 2022