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

and deposit-taking may be two manifestations of the same primitive function: the provision of liquidity on demand. After …

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 …

We build a model that helps explain why increases in liquidity - such as lower bid-ask spreads, a lower price impact of … a class of irrational investors, who underreact to the information contained in order flow, thereby boosting liquidity …. In the presence of short-sales constraints, unusually high liquidity is a symptom of the fact that the market is …

emerging economy, and those affecting borrowing from foreign lenders. This 'dual liquidity' model offers a parsimonious …

play a key role in benefiting from the spillovers of these policies during risk-off episodes. Countries like Japan, which … already had very low long rates, benefited less. However, Japan still benefitted from the reduced persistence of risk …