We provide a model that links an asset's market liquidity - i.e., the ease with which it is traded - and traders …' funding liquidity - i.e., the ease with which they can obtain funding. Traders provide market liquidity, and their ability to … are charged, depend on the assets' market liquidity. We show that, under certain conditions, margins are destabilizing and …

: a greater share will correspond to a more appreciated exchange rate. Second, under uncertainty, liquidity effects …

the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …

effects can arise, so that less liquidity and a higher cost for finance can reinforce each other in a contagious spiral. I … document the remarkable rise in the premium that investors placed on liquidity during the crisis. Next, I show how these issues …

Given the cross-sectional and temporal variation in their liquidity, emerging equity markets provide an ideal setting … to examine the impact of liquidity on expected returns. Our main liquidity measure is a transformation of the proportion … of zero daily firm returns, averaged over the month. We find that our liquidity measures significantly predict future …

expanding (rather than restricting) capital flows. This involves accumulating reserves when global liquidity is high to buy back …

emerging economy, and those affecting borrowing from foreign lenders. This 'dual liquidity' model offers a parsimonious …

liquidity and liability management more generally …