the presence of institutional investors affects volatility and liquidity in secondary bank bond markets. We find that non …’ liquidity conditions, at the cost of significantly increasing volatility of daily returns. The effect translates to more than a … 19% improvement in liquidity conditions and up to 57% increase in daily-return volatility, assuming MMFs hold about 10 …

financial markets world-wide gained importance during the post-crisis "second phase of global liquidity" (Shin, 2013). The …

finds that common shocks - key crisis events as well as changes to global liquidity and risk - have exerted a large effect … particular for emerging markets. - Capital flows ; factor model ; common shocks ; liquidity ; risk ; push factors ; pull factors …

We consider the effects of quantitative easing on liquidity and prices of bonds in a search- and matching model. The … a decline in yields, while they have opposite effects on market liquidity. This results in a price-liquidity trade …-off. Initially, liquidity improves in reaction to central bank demand. As the central bank buys and holds bonds, supply becomes …

This paper investigates the relationship between central bank (reverse) auctions and bill market liquidity. The …