for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central …

We use a Global VAR model to study spillovers from the Bank of Japan's quantitative and qualitative easing (QQE) on …

on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were … mechanisms described by contemporary central bankers, in which an increase in the liquidity ratio has contractionary effects …

Three years have passed since the Bank of Japan's asset purchase program was introduced in 2011, causing a sharp … decline in the value of the Japanese Yen. What would be the implications for Japan and Korea's exporters if the weak Yen is … shocks. We find that if the weak Yen persists, it would strengthen Japan's price competitiveness over time as export prices …

This paper examines the drivers of liquidity shortages in the Mexican government bond market. We use unique transaction …- and quote level data with information on end-investors to construct an index of bond market liquidity. We find that … liquidity remained stable in recent years, although temporary shortages arose amid domestic and global market stress. The …