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Platen, Eckhard; Semmler, Willi - 2009

Monetary policy has pursued the concept of inflation targeting. This has been implemented in many countries. Here interest rates are supposed to respond to an inflation gap and output gap. Yet, recently monetary policy, in particular in the US after the subprime and the credit crises, the...

Persistent link: https://www.econbiz.de/10014203097

Marking to Market, Liquidity and Financial Stability

Plantin, Guillaume; Sapra, Haresh; Shin, Hyun Song - 2010

This paper explores the financial stability implications of mark-to-market accounting, in particular its tendency to amplify financial cycles and the "reach for yield". Market prices play a dual role. Not only do they serve as a signal of the underlying fundamentals and the actions taken by...

Persistent link: https://www.econbiz.de/10014047345

The effects of monetary and fiscal policy : the role of financial markets

Friedman, Benjamin M. - In: Realizing rational exuberance : an appreciation of the …, (pp. 201-229). 2011

Persistent link: https://www.econbiz.de/10009707298

U.S. Treasury market functioning from the GFC to the pandemic

Adrian, Tobias; Fleming, Michael J.; Nikolaou, Kleopatra - 2025

discuss their implications for market functioning in both normal times and times of stress. We find that alternative liquidity … providers have stepped in as constraints on dealer liquidity provision have tightened, supporting liquidity during normal times …

Persistent link: https://www.econbiz.de/10015372069

US treasury market functioning from the GFC to the pandemic

Adrian, Tobias; Fleming, Michael J.; Nikolaou, Kleopatra - 2025

Persistent link: https://www.econbiz.de/10015408847

Views on the likelihood of financial crisis

Friedman, Benjamin M. - 1990

Persistent link: https://www.econbiz.de/10000796666

Liquidity and Financial Cycles

Adrian, Tobias; Shin, Hyun Song - 2013

the innovations in the VIX index. Aggregate liquidity can be seen as the rate of change of the aggregate balance sheet of …

Persistent link: https://www.econbiz.de/10014216388

Views on the Likelihood of Financial Crisis

Friedman, Benjamin M. - 2009

A review of major lines of thinking about developments in the 1980s bearing on the likelihood of a financial crisis in the United States supports four principal conclusions:First, financial crises have historically played a major role in large fluctuations in business activity. A financial...

Persistent link: https://www.econbiz.de/10013155886

An index of treasury market liquidity : 1991-2017

Adrian, Tobias; Fleming, Michael J.; Vogt, Erik - 2017

Treasury market liquidity is constructed, reflecting the fact that the varying measures capture different aspects of market … liquidity. The liquidity index is then correlated with various metrics of funding liquidity, volatility, and macroeconomic … conditions. The liquidity index points to poor liquidity during the 2007-09 financial crisis and around the near failure of Long …

Persistent link: https://www.econbiz.de/10011754283

Views on the Likelihood of Financial Crisis

Friedman, Benjamin M. - 1990

A review of major lines of thinking about developments in the 1980s bearing on the likelihood of a financial crisis in the United States supports four principal conclusions:<br>First, financial crises have historically played a major role in large fluctuations in business activity. A financial...

Persistent link: https://www.econbiz.de/10012475624