An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A …

argument for the existence of safe harbours is liquidity in the financial market. Safe harbour rules do away with a number of … legal concepts, notably those attached to traditional security, and thereby allow for an exponentiation of liquidity … liquidity. To the extent that safe harbours accelerate contagion in terms of crisis, which in principle is a valid argument …

liquidity. This suggests a fundamental complementarity between labor market frictions and holding of liquid assets by firms. …

Market liquidity is typically characterized by a number of ad hoc metrics, such as depth, volume, bid-ask spreads etc … grounds. In this paper we propose a welfare-based denition of liquidity and characterize its relationship to the usual proxies … intermediaries pursue prot opportunities by providing intermediation services (i.e. "liquidity") in exchange for an endogenous fee …

identical, implying that the concentration of liquidity in one asset is socially desirable. At the same time, too many buyers …

Market liquidity is typically characterized by a number of ad hoc metrics, such as depth (or market impact), volume … the existing metrics on welfare grounds. In this paper we propose a welfare-based denition of liquidity and characterize … intermedia- tion services (i.e. \liquidity") in exchange for an endogenous fee. Our model is well suited to study the contagion …

that they must deliver the asset they borrowed. As a result, that asset enjoys both greater liquidity, measured by search … times, and a higher lending fee ("specialness"). Liquidity and specialness translate into price premia that are consistent …