We modify the Diamond and Dybvig (1983) model of banking to jointly study various regulations in the presence of credit … as to provide liquidity and risk-sharing services to the real economy. Our modifications create wedges in the asset and … joint implementation of a capital and a liquidity regulation …

The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to … provide liquidity in corporate bond markets, and thus, average bid-ask spreads underestimate trading costs that customers … demanding liquidity pay. Compared with periods before the 2008 financial crisis, substantial amounts of liquidity provision have …

-of-sample predictive power over the incidence of banking crises and can be used as a reliable crisis indicator, whereas volatility itself …

programs may also finance non-education activities for students whose liquidity is otherwise restricted. This paper explores … be driven by liquidity rather than human capital or wealth effects …

This paper studies how over-the-counter market liquidity is affected by securities lending. We combine micro-data on … program in 2008 caused a statistically and economically significant reduction in the market liquidity of corporate bonds … predominantly held by AIG. We also show that an important mechanism behind the decrease in corporate bond liquidity was a shift …

ongoing liquidity support. Continental's outflows were driven by a broad set of US and foreign financial institutions. These …