We investigate the influence of Japanese central bank interventions on market participants' opinions about the future path of exchange rates. Based on a survey of individual forecasts made by 31 analysts, we investigate the sensitivity of the change, dispersion, directionality and flatness of...

Liquidity level and liquidity risk are priced in the cross-section of corporate bond yields and returns. In the first case the focus is on the individual liquidity level while in the second case it is on the exposure to a common liquidity factor. In this paper we focus on the impact of the...