analyze a model federal funds market where uncertain liquidity flows transaction costs induce banks to delay trading bid up …

several analytical approaches from large-sample theory and bootstrapped small-sample confidence intervals. We do so for two …

more highly correlated; moreover, at these times, money supply positively affects financial market liquidity, albeit with a … lag of two weeks. During normal times, increases in mutual fund flows enhance stock market liquidity and trading volume …, but during financial crises, U.S. government bond funds see higher inflows, resulting in increased bond market liquidity …

, and “micro” or transactions liquidity. …This paper explores liquidity movements in stock and Treasury bond markets over a period of more than 1800 trading days …. Cross-market dynamics in liquidity are documented by estimating a vector autoregressive model for liquidity (that is, bid …