fully collateralized repo market allows Central Banks to provide the adequate aggregated amount of liquidity and leave the … a framework where liquidity shocks cannot be distinguished from solvency ones and ask whether there is a need for a LOLR …

We show in an exchange economy with liquidity constraints that the volume of trade and asset prices depend on both the … supply of liquidity by the Central Bank and on the liquidity of assets and commodities. As a result, monetary aggregates are … economy with heterogeneous agents and short-term liquidity effects, where monetary costs act as transaction costs and the …

The work reported in this paper aimed to measure the impact of liquidity on European Monetary Union (EMU) government … bond prices. Although there is a growing theoretical and empirical literature on liquidity effects in fixed income markets … there is no clear answer to the questions how to measure liquidity and whether liquidity is priced in the market at all. The …

offers. While target liquidity improves as spread costs fall and quoted depths increase, acquirer liquidity falls …

This paper investigates the presence of liquidity premia in the relative pricing of assets traded on the Spanish … liquidity. Second, we estimate liquidity premia, including liquidity parameters in the estimation of the zero-coupon yield curve …. The results suggest the existence of a liquidity premium for post-benchmark bonds (both strippable and non-strippable). …

effective in reducing queuing in the systems at all levels of liquidity, but in particular when intra-day liquidity is scarce. …

the liquidity of the economy relative to investors' target level for liquidity. …

We develop a dynamic model of an order-driven market populated by discretionary liquidity traders. These traders must … patient traders demand liquidity, more patient traders provide it. Three equilibrium patterns are obtained, and these patterns … execution delay in providing liquidity; their proportion in the population, which determines the degree of competition among the …