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. In this paper, we extend the literature on risk allocation games by incorporating liquidity considerations. A liquidity … policy specifies state-dependent liquidity requirements that a portfolio should obey. To comply with the liquidity policy, a … liquidity constraints is not straight- forward, since the presence of a liquidity policy leads to externalities. We argue that …
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The subprime crisis led to a wave of government interventions in the private sector that has been particularly strong in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense, the subprime crisis induced these governments to behave as...
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This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash … buffer stock for liquidity of financially constrained firms. Although the reinvestment of multinationals’ earning is …
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share-issue privatizations (SIPs) and should a priori impact on market liquidity and market size. A positive correlation …
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