​The paper concentrates on illustrating and assessing central banks' liquidity operations during the crisis that …, Canada and the United States are analyzed. During the crisis the liquidity operations of central banks have converged. In … many cases, central bank balance sheets have undergone extremely strong growth. The actions by central banks raise a number …

This paper compares the financial destabilizing effects of excess liquidity versus credit growth, in relation to house … stable money supply-demand relation in the period in question. However, the implied excess liquidity only resulted in … instability. Importantly, however, these mechanisms of credit growth and excess liquidity are found to be closely related. In …

, suggesting that the use of short-term wholesale funding exposed banks to a sudden dry-up in market liquidity. Moreover … during the crisis, suggesting that adverse shocks to banks hurt the economy. This effect was stronger in areas with more bank …

An increase in risk is of key importance to the economy and to its stability. A higher liquidity risk in the system … banking system with smaller liquidity reserves is more vulnerable to the phenomenon of ‘procyclicality' i.e. the strengthening … of economic cycles. A short- and long-term microeconomic risk in banks may, at times of liquidity tension, lead to a …

This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance … financial intermediation with credit and liquidity frictions. The precautionary liquidity shock is shown to work through two …

This paper applies Tian's liquidity risk model to analysis the liquidity shocks to the banking industry during the … Great Depression. The weekly change of banks' balance sheet shows banks' liquidity preference was changed significantly … during 1920s. Call-loans, functioned as today's shadow banking system, created liquidity among banks and provided external …

This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance … financial intermediation with credit and liquidity frictions. The precautionary liquidity shock is shown to work through two …