Brunetti, Celso; Filippo, Mario di; Harris, Jeffrey H. - In: Review of Financial Studies 24 (2011) 6, pp. 2053-2083
We explore whether central bank intervention improves liquidity in the interbank market during the current subprime crisis with unique trade and quote data from the e-MID, the only regulated electronic interbank market in the world. Central bank intervention consistently creates greater...