Open-end mutual funds expose themselves to liquidity risk by granting their investors the right to daily redemptions at … of large destabilising outflows.Optimal swing pricing balances this risk with the benefit of providing liquidity to cash …-constrained investors. We derive bounds, depending on trading costs and the share of liquidity-constrained investors, within which a fund …

funds' stability and liquidity during periods of stress. In particular, we provide evidence on the effectiveness of floating … investors - investors still have an incentive to redeem early, especially during periods of low secondary market liquidity …

the post-crisis regulations—the re-distribution of liquidity among assets with different risk weights assigned to them …

We consider a model in which dealers intermediate trades between clients and provide immediacy, or, market liquidity … dealers' ability to raise external finance and hence to compete aggressively with each other in providing liquidity. To …. Dealers can exert unobservable effort to improve the chance of intermediating profitably. This moral-hazard friction impairs …

are vulnerable to liquidity pressures in both their loan origination and servicing activities, and we document that this … sector in aggregate appears to have minimal resources to bring to bear in a stress scenario. We show how the same liquidity …

considerable inefficiencies in the pilot study's goal of using wider tick sizes to subsidize liquidity provision in small …