International policy efforts to strengthen financial systems have highlighted the role of liquidity. This paper … explores a framework to assess arrangements for market liquidity and lays out elements of systemic liquidity policy. Robust … arrangements for liquidity provide confidence to market participants that liquidity can be mobilized on demand in a predictable and …

attention was paid to the potential spillover of excess liquidity. This paper suggests a notional level of "optimal" liquidity …

We show that, in a monetary equilibrium, trade and asset prices depend on both the supply of the liquidity by the … Central Bank and the liquidity of assets and commodities. As a result, monetary aggregates are informative for the conduct of … monetary policy. We also show asset prices are higher in liquidity-constrained states of nature. This generates a term premium …

borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric …

We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a … lower bound, aggregate demand is insufficient and the economy enters a liquidity trap. In such an environment, agents …

the existence of the structural liquidity in the banking system; bank’s unwillingness to lock up liquidity in the NBP … also shows the effectiveness of the NBP’s responses to the financial crisis and structural liquidity surplus. …

This paper discusses operational aspects of official emergency liquidity support to individual institutions under …

finds that blanket guarantees are successful in reducing liquidity pressures on banks arising from deposit withdrawals … with extensive liquidity support and when crises are severe. …

survey. We show that barter and offsets are linked to liquidity problems at the level of the firm and to arrears in …