credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit …

ensuring that liquidity would be distributed to those institutions that needed it most. Conceptually, this meant America …

In this paper we study European banks' demand for short-term funds (liquidity) during the summer 2007 subprime market …-turmoil liquidity costs, as estimated by our model, are predictive of their post-turmoil liquidity costs, and that there is considerable …

' provision of liquidity insurance in the form of credit lines, their significance in managing corporate liquidity, and the …

collateral is scarce. We call this process shadow banking. A rise in uncertainty raises demand for crash-proof liquidity, forcing … liquidity supply to contract, discount rates and collateral premia spike, prices and investment fall. The model produces slow …We build a macroeconomic model that centers on liquidity transformation in the financial sector. Intermediaries …

-and-repurchase (repo) contracts. Exemption from an automatic stay in bankruptcy enables financial intermediaries to raise greater liquidity … and induces entry of intermediaries with higher leverage during normal times. This liquidity creation occurs, however, at … the cost of ex-post inefficiency when there are adverse aggregate shocks to the fundamental quality of collateral …