of non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … balance sheet operations supply (remove) liquidity to a financial market that is otherwise short (long) of liquidity and hence …

of non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … balance sheet operations supply (remove) liquidity to a financial market that is otherwise short (long) of liquidity and hence …

non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … the economy. This is because balance sheet operations supply (remove) liquidity to a financial market that is otherwise … short (long) of liquidity, and hence allow other financial spreads to move less violently over the cycle to compensate …

this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have …

this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have …

—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …

markets may drive economies into recessions, it shows the following: (1) Liquidity traps may occur not only when interest … flexible exchange rates when the country is stuck in a liquidity trap; (3) Near the fringe of liquidity traps, the risk arises …