Since 2008, excess liquidity - defined as the sum of holdings of central bank reserves in excess of reserve … small, slowly changing group of credit institutions. Despite the stability of the concentration of excess liquidity in … directing flows in the period 2015-16. In addition, the more recent concentration of excess liquidity is explained by the …

We study how banks manage their liquidity among the various assets at their disposal. We exploit the introduction of … assets over time. Our results imply that frictions in one market for liquidity can spill over to several markets …

portion of banks' excess liquidity (EL) holdings from the negative interest rate of the ECB's deposit facility. The two …

We study how banks manage their liquidity among the various assets at their disposal. We exploit the introduction of … assets over time. Our results imply that frictions in one market for liquidity can spill over to several markets. …

lower bound of nominal interest rates and falling into a liquidity trap. Furthermore, credible price-level targeting can …

Since 2008, excess liquidity – defined as the sum of holdings of central bank reserves in excess of reserve … small, slowly changing group of credit institutions.Despite the stability of the concentration of excess liquidity in … directing flows in the period 2015-16. In addition, the more recent concentration of excess liquidity is explained by the …