central banks. One hot topic is whether the increase in liquidity has contributed to the formation of price bubbles in asset … policy rule may limit speculative runs and negative spillovers to the real economy in the future. To examine the impacts of … liquidity shocks on real share and house prices, VAR models are specified for the US and the euro area, as well as global VARs …

According to statute, securities exchanges play an essential role in ensuring compliance with applicable laws and …

the market liquidity effects of enhanced information disclosure induced by the public registration of 144A bonds. Using … results are consistent with existing theories that disclosure reduces information risk and thus improves market liquidity …

We study the fragility of discretionary liquidity provision by major financial intermediaries during systemic events …. The laboratory of our study is the recent collapse of the auction rate securities (ARS) market. Using a comprehensive … discretionary liquidity provision greatly affected both net investor demand and auction clearing rates. Importantly, such …

Agency mortgage-backed securities trade simultaneously in a market for specified pools (SPs) and in the to …-be-announced (TBA) forward market. TBA trading creates liquidity by allowing thousands of different MBS to be traded in a handful of TBA …