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The fragility of discretionary liquidity provision - lessons from the collapse of the auction rate securities market

Han, Song; Li, Dan - Federal Reserve Board (Board of Governors of the … - 2010

. The laboratory of our study is the recent collapse of the auction rate securities (ARS) market. Using a comprehensive …

Persistent link: https://www.econbiz.de/10008679723

Municipal finance: testimony before the Committee on Financial Services, U.S. House of Representatives, May 21, 2009

Wilcox, David W. - Federal Reserve Board (Board of Governors of the … - 2009

Persistent link: https://www.econbiz.de/10010727523

Municipal finance: testimony before the Committee on Financial Services, U.S. House of Representatives, May 21, 2009

Wilcox, David W. - Federal Reserve Board (Board of Governors of the … - 2009

Persistent link: https://www.econbiz.de/10005520073

Dealer Networks

Li, Dan; Schurhoff, Norman - Federal Reserve Board (Board of Governors of the … - 2014

Dealers in over-the-counter securities form networks to mitigate search frictions. The audit trail for municipal bonds …

Persistent link: https://www.econbiz.de/10011095300

Liquidity, default, taxes and yields on municipal bonds

Wang, Junbo; Wu, Chunchi; Zhang, Frank - Federal Reserve Board (Board of Governors of the … - 2005

We examine the relative yields of Treasuries and municipals using a generalized model that includes liquidity as a state factor. Using a unique transaction dataset, we are able to estimate the liquidity risk of municipals and its effect on bond yields. We find that a substantial portion of the...

Persistent link: https://www.econbiz.de/10005514158

Assessing the potential for further foreign demand for U.S. assets: Has financing U.S. current account deficits made foreign investors overweight in U.S. securities?

Bertaut, Carol C. - Federal Reserve Board (Board of Governors of the … - 2008

Since 2001, foreign investors have acquired roughly $5 trillion in U.S. securities--more than doubling their holdings …. Although the rapid growth of foreign holdings of U.S. securities raises concerns that foreign investors may have become too ….S. and other foreign securities in their portfolios in recent years. Based on data from the most recent comprehensive surveys …

Persistent link: https://www.econbiz.de/10005368400

Noise traders, excess volatility, and a securities transactions tax

Kupiec, Paul H. - Federal Reserve Board (Board of Governors of the … - 1995

Persistent link: https://www.econbiz.de/10005720972

Bringing new issues to market: a theory of underwriting

Benveniste, Lawrence M.; Spindt, Paul A. - Federal Reserve Board (Board of Governors of the … - 1988

Persistent link: https://www.econbiz.de/10005721095

A survey of exchange-traded basket instruments

Kupiec, Paul H. - Federal Reserve Board (Board of Governors of the … - 1989

Persistent link: https://www.econbiz.de/10005721104

The economics of the private equity market.

Fenn, George W.; Liang, Nellie; Prowse, Stephen - Federal Reserve Board (Board of Governors of the … - 1995

The private equity market has become an important source of funds for start-up firms, private middle-market firms, firms in financial distress, and public firms seeking buyout financing. Between 1980 and 1994, the amount of private equity outstanding rose from less than $5 billion to $100...

Persistent link: https://www.econbiz.de/10005721440