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Monetary policy cooperation/coordination and global financial crises in historical perspective

Bordo, Michael D. - In: Open economies review 32 (2021) 3, pp. 587-611

Persistent link: https://www.econbiz.de/10012619401

The imbalances of the Bretton Woods system 1965 to 1973 : U.S. inflation, the elephant in the room

Bordo, Michael D. - In: Open economies review 31 (2020) 1, pp. 195-211

Persistent link: https://www.econbiz.de/10012229712

Order exposure and liquidity coordination : does hidden liquidity harm price efficiency?

Cebiroglu, Gökhan; Hautsch, Nikolaus; Horst, Ulrich - 2014

We develop a model of an order-driven exchange competing for order flow with off-exchange trading mechanisms. Liquidity … additional trade demand. We show, in equilibrium, hiding trade intentions can induce mis-coordination between liquidity supply … in prices and order flow after periods of high excess-supply of hidden liquidity. …

Persistent link: https://www.econbiz.de/10010411280

Revisiting the stealth trading hypothesis : does time-varying liquidity explain the size-effect?

Cebiroglu, Gökhan; Hautsch, Nikolaus; Walsh, Christopher - 2019

placement. We introduce the concept of a liquidity elasticity, measuring the responsiveness of liquidity demand with respect to … changes in liquidity supply, as a major driver for a declining price impact per share. Empirical evidence based on Nasdaq … stocks strongly supports theoretical predictions and shows that the aspect of liquidity coor- dination is an important …

Persistent link: https://www.econbiz.de/10012060907