the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …

. Safety traps share many common features with conventional liquidity traps, but also exhibit important differences, in …

effects can arise, so that less liquidity and a higher cost for finance can reinforce each other in a contagious spiral. I … document the remarkable rise in the premium that investors placed on liquidity during the crisis. Next, I show how these issues …

Financial assets provide return and liquidity services to their holders. However, during severe financial crises many … asset prices plummet, destroying their liquidity provision function at the worst possible time. In this paper we present a … not control or understand. The liquidity of the market quickly vanishes and a financial crisis ensues. The model exhibits …

I describe two amplifications mechanisms that operate during liquidity crises and discuss the scope for central bank … disengage from markets and increase their demand for liquidity. This behavior leads to a loss of liquidity and a crisis …