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explains why liquidity cannot easily be apprehended through a single statistics, and asks whether liquidity should be regulated … containment. Finally, the paper takes a macroeconomic perspective, discusses shortages of aggregate liquidity and analyses how … market value accounting and capital adequacy should react to asset prices. It concludes with a topical form of liquidity …
Persistent link: https://www.econbiz.de/10014193181
explains why liquidity cannot easily be apprehended through a single statistics, and asks whether liquidity should be regulated … containment. Finally, the paper takes a macroeconomic perspective, discusses shortages of aggregate liquidity and analyses how … market value accounting and capital adequacy should react to asset prices. It concludes with a topical form of liquidity …
Persistent link: https://www.econbiz.de/10008732226
explains why liquidity cannot easily be apprehended through a single statistics, and asks whether liquidity should be regulated … containment. Finally, the paper takes a macroeconomic perspective, discusses shortages of aggregate liquidity and analyses how … market value accounting and capital adequacy should react to asset prices. It concludes with a topical form of liquidity …
Persistent link: https://www.econbiz.de/10013094785
This discussion by Franklin Allen was published as an appendix to Jean Tirole's paper "Illiquidity and all its Friends" when the paper was originally published as FEEM Nota di Lavoro 78.2010, prior to its publication in the Journal of Economic Literature in 2011, where the appendix no longer...
Persistent link: https://www.econbiz.de/10013044471
We develop a dynamic recursive model where political and economic decisions interact, to study how excessive debt-GDP ratios affect political sustainability of prudent fiscal policies. Rent seeking groups make political decisions - to cooperate (or not) - on the allocation of fiscal budgets...
Persistent link: https://www.econbiz.de/10011302496
against liquidity shocks, which temporarily shut out the economy of short-term credit markets. Due to the presence of a …
Persistent link: https://www.econbiz.de/10012425195
This paper studies endogenous liquidity crises as the result of information panics. Collective ignorance is welfare …
Persistent link: https://www.econbiz.de/10013021818
a trigger of liquidity spirals due to its tightening effect of collateral portfolio values in times of market distress …
Persistent link: https://www.econbiz.de/10013248847
liquidity, I examine the importance of sovereign debt liquidity in a New Keynesian environment with wage rigidities and … liquidity of government bonds has significant detrimental effects on output, employment and investment. A shut down of sovereign … policies taken in 2012 aimed at rising liquidity seem to have prevented a longer and deeper economic downturn …
Persistent link: https://www.econbiz.de/10012934189
a trigger of liquidity spirals due to its tightening effect of collateral portfolio values in times of market distress …
Persistent link: https://www.econbiz.de/10012945744