This paper offers new empirical evidence on the marginal propensity to consume out of an unanticipated liquidity shock … time the policy released a substantial amount of savings from an early retirement scheme that were locked in the scheme …

when the borrowing constraint is binding. More significantly, our results do not depend on the - liquidity or collateral … probability. Because credit and bubble are no more perfectly substitutable assets, the liquidity and collateral roles of the … bubble are not equivalent. Growth is larger when bubbles play the liquidity role, because the burst of a bubble used for …

lower current sale prices are associated with increased storage for liquidity constrained farmers versus unconstrained … farmers. We develop an intertemporal model of market timing in the presence of liquidity constraints that is consistent with …

countries. This paper shows that consumers' desire to monitor liquidity is one of the reasons. Consumers make use of a … predictions: consumers who need to keep control over their remaining liquidity and who have elevated costs of information …

liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …, suggesting that precautionary savings are central to understanding the effects of cash on credit risk"--National Bureau of …

firms with higher cash reserves are less likely to default in the short term, endogenously determined liquidity may be …, suggesting that precautionary savings are central to understanding the effects of cash on credit risk …