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Corporate Bond Liquidity During the COVID-19 Crisis

Kargar, Mahyar - 2020

We study liquidity conditions in the corporate bond market during the COVID-19 pandemic, and the effects of the … unprecedented interventions by the Federal Reserve. We find that, at the height of the crisis, liquidity conditions deteriorated … "lean against the wind" and bid-ask spreads declined. To study the causal impact of the interventions on market liquidity …

Persistent link: https://www.econbiz.de/10012481550

Interpreting the Unconventional U.S. Monetary Policy of 2007-09

Reis, Ricardo - 2010

compares the Federal Reserve's actions with the literature on optimal policy in a liquidity trap. The theory suggests that, to … securities markets can restore liquidity with fewer government funds than extending credit to the originators of loans …

Persistent link: https://www.econbiz.de/10012462989

U.S. Job Flows and the China Shock

Asquith, Brian J. - 2017

International trade exposure affects job creation and destruction along the intensive margin (job flows due to expansions and contractions of firms' employment) as well as along the extensive margin (job flows due to births and deaths of firms). This paper uses 1992-2011 employment data from the...

Persistent link: https://www.econbiz.de/10012453633

EXIM's Exit : The Real Effects of Trade Financing by Export Credit Agencies

Kabir, Poorya; Matray, Adrien; Mueller, Karsten; Xu, Chenzi - National Bureau of Economic Research - 2024

We study the role of export credit agencies--the predominant tool of industrial policy--on firm behavior by using the effective shutdown of the Export-Import Bank of the United States (EXIM) from 2015-2019 as a natural experiment. We show that firms that previously relied on EXIM support saw a...

Persistent link: https://www.econbiz.de/10014468219