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Precautionary Hoarding of Liquidity and Inter-Bank Markets : Evidence from the Sub-prime Crisis

Acharya, Viral V. - 2010

experienced by all settlement banks, regardless of their credit risk, suggestive of an interest-rate contagion from weaker to …

Persistent link: https://www.econbiz.de/10012462261

The Great Escape? A Quantitative Evaluation of the Fed’s Liquidity Facilities

Del Negro, Marco - 2016

We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities and ask: Can a shock to the liquidity of private paper lead to a collapse in short-term nominal interest rates and a recession like the one associated with the 2008 U.S. financial crisis? Once...

Persistent link: https://www.econbiz.de/10012456416

Crisis Resolution and Bank Liquidity

Acharya, Viral V. - 2009

What is the effect of financial crises and their resolution on banks' choice of liquid asset holdings? When risky assets have limited pledgeability and banks have relative expertise in employing risky assets, the market for these assets clears only at fire-sale prices following a large number of...

Persistent link: https://www.econbiz.de/10012463082

Securitized Banking and the Run on Repo

Gorton, Gary B. - 2009

markets that had no connection to housing. We find that changes in the "LIB-OIS" spread, a proxy for counterparty risk, was …

Persistent link: https://www.econbiz.de/10012463426

Uncertainty as Commitment

Nosal, Jaromir - 2013

Time-inconsistency of no-bailout policies can create incentives for banks to take excessive risks and generate endogenous crises when the government cannot commit. However, at the outbreak of financial problems, usually the government is uncertain about their nature, and hence it may delay...

Persistent link: https://www.econbiz.de/10012459895

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis

Acharya, Viral V. - 2012

Can banks maintain their advantage as liquidity providers when they are heavily exposed to a financial crisis? The standard argument - that banks can - hinges on deposit inflows that are seeking a safe haven and provide banks with a natural hedge to fund drawn credit lines and other commitments....

Persistent link: https://www.econbiz.de/10012460820

Determinants of the Japan Premium : Actions Speak Louder Than Words

Peek, Joe - 1999

U.S. and U.K. competitors. This so-called Japan premium' provides a market indicator of investor anxiety about the … ability of Japanese banks to repay loans. We examine the determinants of the Japan premium and find that government … Japanese government, such as injections of funds into the banking system, tended to have an effect on the size of the Japan …

Persistent link: https://www.econbiz.de/10012471539

G3 Exchange Rate Relationships : A Recap of the Record and a Review of Proposals for Change

Clarida, Richard H. - 1999

This paper is a recap of G3 exchange rate relationships since the collapse of Bretton Woods and an analysis of recent proposals for changing the way the G3 countries currently conduct exchange rate policy. We seek to understand these proposals in the context of the status quo monetary policies...

Persistent link: https://www.econbiz.de/10012471348

The Effectiveness of Foreign-Exchange Intervention : Recent Experience

Obstfeld, Maurice - 1988

Since the September 1985 Plaza Hotel announcement by the Group of Five industrial countries, a substantial realignment of exchange rates has been achieved. At the same time, foreign exchange market intervention, much of it concerted and much of it sterilized, has been undertaken on a scale not...

Persistent link: https://www.econbiz.de/10012476261

The Federal Funds Market, Pre- and Post-2008

Swanson, Eric T. - National Bureau of Economic Research - 2022

This chapter provides an overview of the federal funds market and how the equilibrium federal fund rate is determined. I devote particular attention to comparing and contrasting the federal funds market before and after 2008, since there were several dramatic changes around that time that...

Persistent link: https://www.econbiz.de/10012938731

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