liquid instrument suffers from liquidity shocks that induce periods of increased volatility and significant return … the world’s most actively traded physical commodity. Under normal market conditions, traders can easily find … their historical limits, counterparties for trades become scarce and prices must adjust to induce trade. These liquidity …

We investigate the relation between global FX volatility and the excess returns to carry trade portfolios. We find a … significantly negative return co-movement of high interest rate currencies with global volatility, whereas low interest rate … currencies provide a hedge against volatility shocks. Our main global FX volatility proxy accounts for more than 90% of the …

opportunities, asset tangibility, non-debt tax shield, volatility and liquidity on capital structure. Employing the cross … show that profitability and liquidity are negatively and significantly related to leverage. Also asset tangibility has a …

This paper constructs unbiased and model-free measures of daily and hourly volatility of the overnight interest rate … increases in volatility and the most notable variations of its intraday pattern occur at the end of the reserve maintenance … period and at the end of each quarter. The average effect on market volatility of Eurosystem money market operations and …

of bankruptcies. In this framework, we find that stock market volatility may damage the real economy if the stock market … is too relevant. In particular, an increase of volatility worsens the economic performance through the stock market …

(with causal feedback), and that they affect the exchange rate volatility. Finally, with weekly data we highlight that the … euro/dollar volatility "Granger-cause" the rate of return on stocks. …

return volatility. Besides, the increases in the STT rate have mixed effects on market efficiency, either improving or …