and liquidity has increased since the late 1990s, and to a lesser extent because economic growth has slowed. We reach this …

rule moving from an explicit target in terms of a liquidity stress indicator. The implications of this approach on …

toxic assets obstructed the pipes. Banks were forced to squeeze liquidity in a 'lemons market' or to ask for liquidity 'on … and liquidity risk and then evaluates the decomposition. The main finding is that credit risk increased before the key … events of the crisis, while liquidity risk was mainly responsible for the subsequent increases in the Euribor spread and then …

We show that popular models of flight-to-liquidity shocks have strongly counterfactual implicationsfor asset returns … model, we can show that liquidity shocks played a negligible role and became virtually irrelevant after 2010. We also show … that the slowdown in productivity growth, not liquidity shocks, caused the post-2010 fall in the natural rate …

determine asset liquidity. In our model, two asset suppliers try to profit from the liquidity services their assets confer …. Asset liquidity is indirect in the sense that assets can be sold for money in over-the-counter (OTC) secondary markets … liquidity of two assets. Asset demand curves can slope upward for evenmodest degrees of increasing returns in the matching …

rates of return to compensate agents for their relative lack of liquidity. Consistent with empirical findings, our model …