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How to Escape a Liquidity Trap with Interest Rate Rules

Duarte, Fernando - 2019

I study how central banks should communicate monetary policy in liquidity trap scenarios in which the zero lower bound …

Persistent link: https://www.econbiz.de/10012903294

Liquidity Traps, Capital Flows

Acharya, Sushant - 2018

normative analysis of capital flows when a region of the global economy experiences a liquidity trap. Capital flows reduce …

Persistent link: https://www.econbiz.de/10012936528

Safety, Liquidity, and the Natural Rate of Interest

Del Negro, Marco; Giannone, Domenico; Giannoni, Marc P.; … - 2017

and liquidity has increased since the late 1990s, and to a lesser extent because economic growth has slowed. We reach this …

Persistent link: https://www.econbiz.de/10014121421

An Index of Treasury Market Liquidity : 1991-2017

Adrian, Tobias - 2017

Treasury market liquidity is constructed, reflecting the fact that the varying measures capture different aspects of market … liquidity. The liquidity index is then correlated with various metrics of funding liquidity, volatility, and macroeconomic … conditions. The liquidity index points to poor liquidity during the 2007-09 financial crisis and around the near failure of Long …

Persistent link: https://www.econbiz.de/10012943261

An Anatomy of U.S. Personal Bankruptcy Under Chapter 13

Eraslan, Hulya - 2017

We build a structural model of Chapter 13 bankruptcy that captures salient features of personal bankruptcy under Chapter 13. We estimate our model using a novel data set that we construct from bankruptcy court dockets recorded in Delaware in 2001 and 2002. Our estimation results highlight the...

Persistent link: https://www.econbiz.de/10012970125

Auto Credit and the 2005 Bankruptcy Reform : The Impact of Eliminating Cramdowns

Chakrabarti, Rajashri - 2017

Auto lenders were perhaps the biggest winners of the 2005 Bankruptcy Reform. Cars depreciate quickly, so borrowers often owe more than their car is worth. Prior to the Reform, these borrowers could reduce the principal on their auto loan to the market value of the car through a “cramdown” in...

Persistent link: https://www.econbiz.de/10012967738

Financial Aid, Debt Management, and Socioeconomic Outcomes : Post-College Effects of Merit-Based Aid

Scott-Clayton, Judith - 2017

Prior research has demonstrated that financial aid can influence both college enrollments and completions, but less is known about its post-college consequences. Even for students whose attainment is unaffected, financial aid may affect post-college outcomes via reductions in both time to degree...

Persistent link: https://www.econbiz.de/10012968272

Does Going Easy on Distressed Banks Help the Macroeconomy?

Hundtofte, Sean - 2018

During banking crises, regulators often relax their requirements and refrain from closing troubled banks. I estimate the real effects of such regulatory forbearance during the U.S. savings and loan crisis by comparing states' economic outcomes by the amount of forbearance they receive. As...

Persistent link: https://www.econbiz.de/10012932594

Import Competition and Household Debt

Barrot, Jean-Noel - 2018

We analyze the effect of import competition on household balance sheets from 2000 to 2007 using individual data on consumer finances. We exploit variation in exposure to foreign competition using industry-level shipping costs and initial differences in regions' industry specialization to study...

Persistent link: https://www.econbiz.de/10012932966

Dealer Balance Sheets and Bond Liquidity Provision

Adrian, Tobias - 2017

-bond-level transactions, we link changes in liquidity of individual U.S. corporate bonds to dealers' transaction activity and balance sheet …

Persistent link: https://www.econbiz.de/10012966738