This paper explores liquidity spillovers in market-capitalization-based portfolios of NYSE stocks. Return, volatility …-cap stocks are stronger when spreads in the large-cap sector are wider. Consistent with the notion that private informational … trading in large-cap stocks is transmitted to other stocks with a lag, order flows in the large-cap-stock decile predict both …

about them. For example, liquidity one year after the pick day remains higher for these stocks than for a sample matched … microstructure factors, we find that stocks with lower initial liquidity have greater improvements in liquidity on the pick day …. Further, stocks with lower initial liquidity and higher pick-day liquidity have higher pick-day excess returns. These results …

This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing …

shocks driving the economy and the systematic response of monetary policy to inflation: More flexible prices amplify the … shocks, ask: Would the U.S. economy have been more or less stable had prices been more flexible than historically? Our main …