This paper studies endogenous liquidity crises as the result of information panics. Collective ignorance is welfare …

This paper develops a dynamic model to study optimal liquidity regulations for multiple assets that differ in liquidity …. I show that optimal macroprudential policies are affected by asset liquidity and the multi-asset structure. Lower asset … liquidity amplifies declines in asset prices and tightens the collateral constraint during financial crises, raising …

Due to the significant share of mortgage loans in the portfolio structure of a large number of commercial banks … of non-performing loans in banks' balance sheets is significantly affected by the fall in real estate prices, the paper …

bubble, traders drive the price above its fundamental value in a dynamic way, driven by rational expectations about future … price developments. At a previously unknown date, the bubble will endogenously burst. We provide a general condition for the …

This paper quantifies liquidity and credit premia in German and French government bond yields. For this purpose, we …-`a-vis government bonds can be attributed to differences in liquidity premia. Adding the information on risk-free rates, we obtain model …