component of capital flows: global liquidity, broadly understood as a proxy for the international supply of credit. We identify … introduced by Stock and Watson and Mertens and Ravn. We find that in emerging markets a global liquidity shock has a much …

We describe methods for measuring liquidity provision that can be applied to real-time gross settlement payment systems …. Using data from CHAPS, the UK large-value payment system, we find that smaller banks tend to provide more liquidity than … larger banks, relative to their payment flows. We use a Gini coefficient to measure these variations in liquidity provision …

day, banks choose how much costly liquidity to allocate to the settlement process. Then, they use it to execute an … exogenous, random stream of payment orders. If a bank's liquidity stock is depleted, payments are queued until new liquidity … arrives from other banks, imposing costs on the delaying bank. The paper studies the equilibrium level of liquidity posted in …

liquidity insurance schemes, public capital injections, and nationalisations. We use bank-level data spanning all British and …

liquidity, price discovery and excess volatility. For that, we use a unique transactions data set for four UK stocks, over the … trading behaviour of individual HFTs. We first find that HFTs differ significantly from each other in terms of liquidity … provision: while some HFTs mostly consume liquidity (ie trade more ‘aggressively’) by primarily executing trades via market …