aggressive use of both traditional monetary policy instruments and innovative tools in an effort to provide liquidity. In this …

We study how the risks to future liquidity flow across corporate bond, Treasury, and stock markets. We document … distribution “flight-to-safety” effects: a deterioration in the liquidity of high-yield corporate bonds forecasts an increase in … the average liquidity of Treasury securities and a decrease in uncertainty about the liquidity of investment …

sensitivity of these strains to risk sentiment deterioration. Cross-border flows through banks for excess liquidity support … facilities leaves longer-term patterns of cross-border liquidity and capital flows broadly unchanged. While official sector … liquidity hoarding and “dash for cash” activity are expected to be lower with access to these facilities, initial evidence does …

We find that banks subject to the Liquidity Coverage Ratio (LCR) create less liquidity per dollar of assets in the post …-off between lower liquidity creation and greater resilience from liquidity regulations …

In August of 2007, banks faced a freeze in funding liquidity from the asset-backed commercial paper (ABCP) market. We … investigate how banks scrambled for liquidity in response to this freeze and its implications for corporate borrowing. Commercial …

A major lesson of the recent financial crisis is that the ability of banks to withstand liquidity shocks and to provide …

The coronavirus outbreak raises the question of how central bank liquidity support affects financial stability and … withdrawals. Banks that were members of the Federal Reserve System were able to access central bank liquidity, enabling them to … rather curtailed lending, suggesting that there was little-to-no pass-through of central bank liquidity. Further, in the …

We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities, explicitly … incorporating the zero bound on the short-term nominal interest rate. Within this framework, we ask: Can a shock to the liquidity of … government exchanges liquid government assets for illiquid private paper? We find that the effects of the liquidity shock can be …