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Central bank purchases of government bonds
Huber, Samuel; Kim, Jaehong - 2015
We develop a microfounded model, where agents have the possibility to trade money for government bonds in an over-the-counter market. It allows us to address important open questions about the effects of central bank purchases of government bonds, these being: under what conditions these...
Persistent link: https://www.econbiz.de/10010518714
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Central bank purchases of government bonds
Huber, Samuel; Kim, Jaehong - 2015
We develop a dynamic general equilibrium model to analyze the effects of central bank purchases of government bonds by investigating the following three questions: Under what conditions are these purchases socially desirable, what incentive problems do they mitigate, and how large are these...
Persistent link: https://www.econbiz.de/10011420573
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Centralized trading of corporate bonds
Huber, Samuel; Kim, Jaehong - 2015
bond market liquidity. In order to stabilize these markets, policy makers recently proposed that the trading of corporate … only if it is feasible for him to also affect market liquidity, by either increasing or decreasing it. …
Persistent link: https://www.econbiz.de/10011384108
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On the Optimal Quantity of Liquid Bonds
Huber, Samuel - 2017
We develop a dynamic general equilibrium model to analyze the optimal quantity of liquid bonds by investigating the following three questions: Under what conditions is it socially desirable to contract the bond supply, what incentive problems are mitigated by doing this, and how large are the...
Persistent link: https://www.econbiz.de/10012957817
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On the Optimal Quantity of Liquid Bonds
Huber, Samuel - 2017
We develop a dynamic general equilibrium model to analyze the optimal quantity of liquid bonds by investigating the following three questions: Under what conditions is it socially desirable to contract the bond supply, what incentive problems are mitigated by doing this, and how large are the...
Persistent link: https://www.econbiz.de/10012971770
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Centralized trading of corporate bonds
Huber, Samuel; Kim, Jaehong - 2015
bond market liquidity. In order to stabilize these markets, policy makers recently proposed that the trading of corporate … only if it is feasible for him to also affect market liquidity, by either increasing or decreasing it. …
Persistent link: https://www.econbiz.de/10011420570
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Asset liquidity in monetary theory and finance : a unified approach
Geromichalos, Athanasios; Jung, Kuk Mo; Lee, Seungduck; … - 2019
assets are likely to serve as media of exchange or collateral (a definition of liquidity often employed in monetary theory …), or that they can be easily sold in a secondary market, if needed (a definition of liquidity closer to the one adopted in … finance)? We develop a model where these two notions of asset liquidity coexist, and their relative importance is determined …
Persistent link: https://www.econbiz.de/10012101372
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On the optimal quantity of liquid bonds
Huber, Samuel; Kim, Jaehong - In: Journal of economic dynamics & control 79 (2017), pp. 184-200
Persistent link: https://www.econbiz.de/10011817618
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Fire buys of central bank collateral assets
Roure, Calebe de - 2017
In times of financial distress, central banks provide unlimited liquidity to avoid fire sales. In response, banks raise … investigate how unlimited liquidity provision affects collateral prices. Also, I match banks' trades with their balance sheet and … show how funding liquidity impacts premia payment. I quantify the Fire Buy premium to be 15.6 bps; and the Risk …
Persistent link: https://www.econbiz.de/10011587096
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The Federal Reserve's market functioning purchases
Fleming, Michael J.; Liu, Haoyang; Podjasek, Rich; … - 2021
effective transmission of monetary policy. Market liquidity improved steadily after mid-March, suggesting that the Fed's efforts …
Persistent link: https://www.econbiz.de/10012797889