Browsing Arbeidsnotater / Working Papers by Author "Klingler, Sven"
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Burying Libor
Klingler, Sven; Syrstad, Olav (Working Paper;13/2019, Working paper, 2019)We argue that the planned transition toward alternative benchmark rates gives reason to mourn Libor. Guided by a model in which banks and non-banks can lend to each other, subject to realistic regulatory constraints, we ... -
Disclosing the Undisclosed: Commercial Paper As Hidden Liquidity Suffers
Klingler, Sven; Syrstad, Olav (Working paper;16/2021, Working paper, 2021)Using new transaction-level data for non-financial commercial paper (CP) in the U.S., we show that companies systematically reduce their outstanding short-term debt on quarterly and annual disclosure dates. Constraints on ... -
Does SOFR-linked debt cost borrowers more than LIBOR-linked debt?
Klingler, Sven; Syrstad, Olav (Working paper;7/2023, Working paper, 2023)We investigate if the benchmark transition from London Interbank Offered Rate (Libor) to Secured Overnight Financing Rate (SOFR) affects the costs of borrowing floating rate debt. The primary market for dollar-denominated ...