We investigate the effects of introducing a central clearing counterparty (CCP) on securities prices by adopting as an …

This paper analyses the relationship between the prevailing liquidity conditions (such as measures of money, credit and … sustained excess liquidity, we analyse under which conditions they are more likely to be followed by an asset price boom. The … periods of sustained excess liquidity that are accompanied by strong economic activity, low interest rates, high real credit …

We propose a model that links the conditional probability of bank failure to insolvency and liquidity risks, and show … that liquidity risk affects bank failures through systematic and idiosyncratic channels. Empirical results based on U … systematic liquidity risk was a major predictor of bank failures in 2008 and 2009. This finding has important implications for …

Using copula methods and simulation-based inference, the authors investigate the association between the performance of …

Using copula methods and simulation-based inference the authors address the association between the performance of the …