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Wray, L. Randall - 2010

possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox …'s approach, which relies on accounting identities; the K distribution theory of Keynes, Michal Kalecki, Nicholas Kaldor, and …

Persistent link: https://www.econbiz.de/10010286493

The price of liquidity: bank characteristics and market conditions

Fecht, Falko; Nyborg, Kjell G.; Rocholl, Jörg - 2009

We study differences in the price paid for liquidity across banks using price data at the individual bank level. Unique to this paper, we also have data on individual banks' reserve requirements and actual reserve holdings, thus allowing us to gauge the extent to which a bank is short or long...

Persistent link: https://www.econbiz.de/10010264580

The price of liquidity: bank characteristics and market conditions

Fecht, Falko; Nyborg, Kjell G.; Rocholl, Jörg - 2008

Persistent link: https://www.econbiz.de/10010298747

Reserve levels and intraday federal funds rate behavior

Hilton, Spence; Hrung, Warren B. - 2007

We analyze the impact of aggregate reserve levels on the intraday behavior of the federal funds rate over a sample period extending from 2002 to 2005. We study both how the reserve levels accumulated earlier in a maintenance period influence the morning level of the funds rate relative to the...

Persistent link: https://www.econbiz.de/10010283343

Commodities, Energy and Finance

Gnan, Ernest; Gudmundsson, Mar; Liebscher, Klaus; … - 2008

Persistent link: https://www.econbiz.de/10011689933

Crisis Management at Cross-Roads - Challenges facing cross-border financial institutions at the EU level

Ayadi, Rym; Balling, Morten; Caruana, Jaime; Evenepoel, … - 2010

On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

Persistent link: https://www.econbiz.de/10011689942

States, Banks and the Financing of the Economy: Monetary Policy and Regulatory Perspectives

Balling, Morten; Jackson, Patricia; Gnan, Ernest; … - 2013

the monetary policy and financial regulation and supervision perspectives. In the preceding SUERF Study (2013/2), the …

Persistent link: https://www.econbiz.de/10011689959

Identifying VARs through heterogeneity: An application to bank runs

De Graeve, Ferre; Karas, Alexei - 2010

We propose to incorporate cross-sectional heterogeneity into structural VARs. Heterogeneity provides an additional dimension along which one can identify structural shocks and perform hypothesis tests. We provide an application to bank runs, based on microeconomic deposit market data. We impose...

Persistent link: https://www.econbiz.de/10010320742

Endogenous systemic liquidity risk

Cao, Jin; Illing, Gerhard - 2009

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10010264620

Endogenous systemic liquidity risk

Cao, Jin; Illing, Gerhard - 2008

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2007), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10010298406