profitability of banks’ portfolios affect their ability to cover for any liquidity shortage and hence infl uence the premium they … liquidity shock leads to a sharp decrease in long-term rates and term spreads. Such interventions have signifi cant impact on … long-term investment, decreasing the amplitude of output responses after a liquidity shock. The short-term rate does not …

This paper investigates the effect of the introduction of exchange-traded funds (ETFs) on the liquidity of individual …

Extreme market outcomes are often followed by a lack of liquidity and a lack of trade. This market collapse seems … uncertainty with liquidity, we specify a simple market where a monopolist financial intermediary makes a market for a propriety … liquidity. Our infinite-horizon example produces short, dramatic decreases in liquidity even though the underlying environment …

algorithms are documented that can be rectified by recognizing that the impact on liquidity is the fundamental characteristic … underlying order placement. Although this liquidity-based method is difficult to implement, it more closely captures the actual …