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Modeling Monetary Policy
Reynard, Samuel; Schabert, Andreas - 2009
conditions, i.e. the varying liquidity value ofeligible assets and the associated risk. This induces a liquiditypremium, which …
Persistent link: https://www.econbiz.de/10010325945
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Credit risk transfers and the macroeconomy
Faia, Ester - 2010
credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets …
Persistent link: https://www.econbiz.de/10011605302
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Understanding liquidity shortages during severe economic downturns
Atolia, Manoj; Marquis, Milton H. - 2009
Persistent link: https://www.econbiz.de/10014306477
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Internal sources of finance and the great recession
Barnes, Michelle L.; Pancost, N. Aaron - 2010
The rising stockpile of cash as a share of total assets at U.S. firms has intrigued economists since at least the paper of Bates, Kahle, and Stulz (2006), yet there has been relatively little work on where this cash has come from and how it is related to investment performance. We exploit...
Persistent link: https://www.econbiz.de/10010280899
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Do firms buy their stock at bargain prices? Evidence from actual stock repurchase disclosure
Ben-Rephael, Azi; Oded, Jacob; Wohl, Avi - 2011
We use new data from SEC filings to investigate how S&P 500 firms execute their open market repurchase programs. We find that smaller S&P 500 firms repurchase less frequently than larger firms, and at a price which is significantly lower than the average market price. Their repurchase activity...
Persistent link: https://www.econbiz.de/10010308547
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Flights to Safety
Baele, Lieven; Bekaert, Geert; Inghelbrecht, Koen; Wei, Min - 2012
Despite a large and growing theoretical literature on flights to safety, there does not appear to exist an empirical characterization of flight-to-safety (FTS) episodes. Using only data on bond and stock returns, we identify and characterize flight to safety episodes for 23 countries. On...
Persistent link: https://www.econbiz.de/10011506750
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The Effects of Industry-Level Uncertainty on Cash Holdings: The Case of Germany
Baum, Christopher F.; Schäfer, Dorothea; Talavera, … - 2006
increases the firm will increase its optimal level of liquidity. We test this hypothesis using a panel of German firms drawn …
Persistent link: https://www.econbiz.de/10010260994
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Liquidity (risk) concepts: definitions and interactions
Nikolaou, Kleopatra - 2009
We discuss the notion of liquidity and liquidity risk within the financial system. We distinguish between three … different liquidity types, central bank liquidity, funding and market liquidity and their relevant risks. In order to understand … the workings of financial system liquidity, as well as the role of the central bank, we bring together relevant literature …
Persistent link: https://www.econbiz.de/10011605054
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Capital flows, push versus pull factors and the global financial crisis
Fratzscher, Marcel - 2011
finds that common shocks – key crisis events as well as changes to global liquidity and risk – have exerted a large effect …
Persistent link: https://www.econbiz.de/10011605410
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Did the Crisis Affect Potential Output?
El-Shagi, Makram - 2010
run role of excess liquidity (that we estimate endogeneously) for inflation is taken into account. …
Persistent link: https://www.econbiz.de/10010271405