uncertainty about bank solvency and lower values for repo collateral. Concerns about the liquidity of markets for the bonds used … as collateral led to increases in repo "haircuts": the amount of collateral required for any given transaction. With …

collateral is scarce. We call this process shadow banking. A rise in uncertainty raises demand for crash-proof liquidity, forcing … intermediaries to delever and substitute toward safe, collateral- intensive liabilities. Shadow banking shrinks, causing the … liquidity supply to contract, discount rates and collateral premia spike, prices and investment fall. The model produces slow …

into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries …, which have a convenience yield. In the new economy the quality of collateral matters: when Treasuries are scarce, the … Treasuries is high, a financial crisis is more likely. The central bank's open market operations affect the quality of collateral …

-term safe assets are money or money-like. A long-term safe asset can store value over time or be used as collateral. Human …

eurozone countries. By emphasizing several econometric approaches (nonlinear regression, quantile regression and Bayesian … their sovereign debt and fiscal situations. Thus, the integration among the different eurozone countries is stable, and the …

: principal amount, interest rate, collateral type, haircut, tenor, and counterparty …