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Jovanovic, Boyan - 2010

Our paper reports the following two findings: 1) In monthly data, bond purchases by the Fed raise bond prices and reduce bond yields. The residual bond-supply to traders is not fully predictable, and this supply-risk adds between 10 and 40 basis points to the standard deviation of the real...

Persistent link: https://www.econbiz.de/10012763097

Household credit : regulation, constraints and macroeconomic implications

Eryzhenskiy, Ilya - 2022

Persistent link: https://www.econbiz.de/10012819355

Postdefault Interest Rates in Bankruptcy

Carlson, David Gray - 2015

This Article shows that as Bankruptcy Code section 506(b) is currently written, postdefault interest rates are prohibited when the default is an “ipso facto event” — a filing for bankruptcy or insolvency as the event of a default. Yet some courts have insisted on postdefault interest in...

Persistent link: https://www.econbiz.de/10013013127

Too Much Insolvency : 'Unmatured Interest' and 'Debt' Under the Code

Heaton, J.B. - 2020

An unacknowledged fact about the Bankruptcy Code's definition of "insolvent" is that it requires unmatured interest to be counted as debt. Ignored in practice, this statutory requirement makes no economic sense, but remains a trap awaiting a litigant in front of a court compelled to apply the...

Persistent link: https://www.econbiz.de/10012853263

The Liquidity Premium of Near-Money Assets

Nagel, Stefan - 2014

Treasury bills and other near-money assets provide owners with liquidity service benefits that are reflected in prices … in the form of a liquidity premium. I relate time variation in this liquidity premium to changes in the opportunity cost … of money: The liquidity service benefits of near-money assets are more valuable when short-term interest rates are high …

Persistent link: https://www.econbiz.de/10013051746

The Liquidity Premium of Near-Money Assets

Nagel, Stefan - 2014

Persistent link: https://www.econbiz.de/10013052061

Self Control and Commitment : Can Decreasing the Liquidity of a Savings Account Increase Deposits?

Beshears, John - 2015

If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted...

Persistent link: https://www.econbiz.de/10013017088

Liquidity management and monetary transmission : empiricalanalysis for India

Charmal, Vikas; Goyal, Ashima - 2021

Persistent link: https://www.econbiz.de/10012803831

Socially Excessive Bankruptcy Costs and the Benefits of Interest Rate Ceilings on Loans

Espinosa-Vega, Marco A. - 2015

The authors study the capital accumulation and welfare implications of ceilings on loan interest rates in a dynamic general equilibrium model. Binding ceilings on loan rates reduce the probability of bankruptcy. Lower bankruptcy rates result in lower bankruptcy and liquidation costs. The authors...

Persistent link: https://www.econbiz.de/10013032689

Optimal Public Debt Management and Liquidity Provision

Angeletos, George-Marios - 2015

We study the Ramsey policy problem in an economy in which firms face a collateral constraint. Issuing more public debt alleviates this friction by increasing the aggregate quantity of collateral. In so doing, however, the issuance of more debt also raises interest rates, which in turn increases...

Persistent link: https://www.econbiz.de/10013035953