liquidity and volatility. To identify causality, we rely on the unique design of this tax that is imposed only on large French … measures of liquidity, such as price impact, and no significant effect on volatility. The results are robust if we rely on …

We propose a tractable framework for quantifying the impact of fire sales on the volatility and correlations of asset … returns and provide a quantitative explanation for spikes in volatility and correlations observed during liquidation of large …

This paper investigates the relation between liquidity and asset prices. It shows that, when banks balance sheets are …

the heuristics that they use. At this level the notions of cognitive or cultural shortcut and strategic shortcut as well …

trade. If most liquidity demanders are uninformed, there is likely to be significant wash trade among them, resulting in … Normal-like volume distributions. If most liquidity demanders are informed, their trades are correlated so that the volume …

model to highlight how liquidity and insurance constraints respond differently to the time profile of expected cash …-entrepreneurship by enhancing the willingness to bear risk. …

of assets, income and cash flows, or the abundant liquidity at a low cost. This paper studies the risk behavior of the …According to some recent empirical papers, periods of low interest rates would favor a risk-taking channel of monetary … policy whereby bank risk-appetite and risk-taking behavior would be stronger after. Several theoretical explanations exist to …