The dynamic relationship between stock returns and trading volumes is examined during normal and crisis periods by a … during two important crisis periods, the Global Financial Crisis and the Covid- 19 pandemic, on the nature of relationship …

financial crisis, and only afterwards has the importance of investment funds, government debt and central banks increased … vice versa. We also document weak dynamics since the global financial crisis in lending between euro area banks and non …-financial corporations. Next, we look at the financial system during the global financial crisis and the outbreak of the COVID-19 pandemic, a …