over faster than domestic assets because the former have desirable liquidity properties, but represent inferior saving …

: a greater share will correspond to a more appreciated exchange rate. Second, under uncertainty, liquidity effects …

instruments used in the sterilization are illiquid or result in fiscal deficits that reduce the liquidity of the private sector … country's international liquidity during the external crisis and reversal, as would be the case with a successful … sterilization, but just a decline in domestic private liquidity. The impact of the latter on relative asset prices creates a sort of …

liquidity and liability management more generally …

Both investors and borrowers are concerned about liquidity. Investors desire liquidity because they are uncertain about … when they will want to eliminate their holding of a financial asset. Borrowers are concerned about liquidity because they … compensation for the illiquidity investors will be subject to. We argue that banks can resolve these liquidity problems that arise …

Default probability plays a central role in the static tradeoff theory of capital structure. We directly test this … theory by regressing the probability of default on proxies for costs and benefits of debt. Contrary to predictions of the … theory, firms with higher bankruptcy costs, i.e., smaller firms and firms with lower asset tangibility, choose capital …