explains why liquidity cannot easily be apprehended through a single statistics, and asks whether liquidity should be regulated … containment. Finally, the paper takes a macroeconomic perspective, discusses shortages of aggregate liquidity and analyses how … market value accounting and capital adequacy should react to asset prices. It concludes with a topical form of liquidity …

address liquidity and solvency crises has been patchy and inconsistent, with no clear distinction between the two; in … specialized ILLR facilities to address problems of liquidity, adjustment, and debt restructuring in a focused but robust way as …

following bad news about future needs for liquidity. Third, optimal monetary policy is time inconsistent. Fourth, macro …-prudential supervision is called for. We characterize the optimal regulation, which takes the form of a minimum liquidity requirement coupled … instruments is endogenous and characterize the structure of optimal bailouts. -- Monetary Policy ; Funding Liquidity Risk …