sectors'' frailty and future debt dynamics. The liquidity of sovereign bond markets still seems to play a significant (albeit …

shocks induced by the pandemic to their liquidity, viability and solvency. For this purpose, we develop novel multi … their debt, and on their liquidity and solvency positions. Applying the October 2020 WEO baseline and adverse scenarios, we … the initial shock as earnings recover in line with projected macroeconomic conditions, liquidity needs remain substantial …

sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A …

Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the … euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for … longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro …

on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were … mechanisms described by contemporary central bankers, in which an increase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