The paper analyses and compares the role that the tightening in liquidity conditions and the collapse in risk appetite … shocks have had a more severe impact on advanced economies, it was mainly the decline in risk appetite that affected emerging … empirical exercise with a Global VAR approach, the findings highlight the diversity of the transmission process. While liquidity …

The paper presents an analysis of the trade-offs of participants of different type between payment delay and liquidity … system is described and calibrated using real world parameters. The payment system is simulated for various liquidity levels … liquidity requirements, as the payment delays they face for each liquidity level will be different. This is shown using …

euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

finds that common shocks – key crisis events as well as changes to global liquidity and risk – have exerted a large effect …, country risk and the strength of domestic macroeconomic fundamentals. Comparing and quantifying these effects shows that …

This paper analyses the effects of US monetary policy on stock markets. We find that, on average, a tightening of 50 …. First, we show that there are strong industry-specific effects of US monetary policy. Second, we find that for the … us to distinguish between firmand industry-specific effects, and confirms that both play an important role. …