This paper explores the relationship between market liquidity and market return around scheduled Federal Open Market … Committee (FOMC) meetings. We document that market liquidity on the day prior to the announcement contains useful information to … predict the post-FOMC announcement return, which is positive (negative), on average, when liquidity is low (high). Our …

, flight-to-safety or liquidity premiums? Using data on German nominal bonds between 2005 and 2015, we study the differential … pricing and liquidity of short and long maturity bonds. We find statistically significant, but economically negligible … segmentation in yields and some degree of liquidity segmentation of short-term versus long-term bonds. These results have important …

Assets have "indirect liquidity" if they cannot be used as media of exchange, but can be traded to obtain a medium of … liquidity, provides closed form solutions for real and nominal assets, and discusses properties of the solutions. Some of these … for teaching concepts from monetary theory. …