We provide an economic model of a decentralized exchange (DEX) that allows investors to concentrate liquidity within … exogenously specified price intervals (e.g., Uniswap V3). We demonstrate that providing liquidity for a risky vs. risk-free asset … as the risky asset price increases. Notably, we establish that DEX liquidity provision is always a sub-optimal investment …

We differentiate the liquidity and the quality of private assets in a tractable incomplete-market model with … heterogeneous agents. The model decomposes the convenience yield of government bonds into a "liquidity premium" (flight to liquidity … fluctuations and bond premiums, the model reveals that a sharp reduction in the quality, instead of the liquidity, of private …

liquidity across corporate bonds. The unpredictability of liquidity demands inherent in these funds can prompt correlated … ownership and liquidity commonality in investment-grade bonds, indicating that ETFs curtail opportunities for liquidity risk … diversification. Conversely, mutual fund ownership does not impact bond liquidity co-movement, a feature that distinctly …

swaps reduces pension funds' exposure to interest rate risk, it exposes pension funds to liquidity risk because of potential …

analyzed. A combination of liquidity ratios, activity ratios, and leverage ratios were used to analyze the relationship between …