secured debt became the most widely used concept to coinsure against liquidity shocks. However, since financial assets are …

The goal of this paper is to study how informational frictions affect asset liquidity in OTC markets in a laboratory …

The goal of this paper is to study how informational frictions affect asset liquidity in OTC markets in a laboratory …

secured debt became the most widely used concept to coinsure against liquidity shocks. However, since financial assets are …

We analyze a novel feedback mechanism between market and funding liquidity that causes self-fulfilling liquidity dry … gain by resorting to outside liquidity sources and withhold assets from secondary markets. This leads to adverse selectrion … become mutually reinforcing. We compare different policy measures that can mitigate the risk of inefficient liquidity dry …

Many empirical studies suggest that correlated demand is important in driving liquidity commonality among stocks …. However, there are still no theoretical studies on how demandside factors cause and affect liquidity and return commonality … study the effect of correlated demand on the commonality in liquidity, in liquidity risks and in returns. We solve the …

theory to explain liquidity in the second-hand real estate market. The idea is to decompose real estate asset into two … or loss aversion behaviour, our model shows that 1) real estate liquidity depends on the relative importance of land and …

downside liquidity for corporate bonds. While the evidence of illiquidity on risk premium in the cross-section of corporate … bonds is mixed, the aggregate liquidity asymmetry has a high explanatory power for the time series of market returns. It is … statistically and economically more significant than the innovation in traditional roundtrip liquidity costs. Some evidence suggests …

We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents …