major macro drivers of liquidity crunches. It also becomes clear that liquidity in an emerging market like Turkey has been … decoupling in liquidity between a major emerging market and the global markets follows the imminent end of quantitative easing …

generate sizable abnormal returns both before and after transaction costs. We further show that money-market liquidity, capital …

and NGEU initiatives helped improve EU bonds' market liquidity from previously low levels, also reducing liquidity risk … premia. Eurosystem purchases and holdings of EU bonds did not impair market liquidity. Currently, one obstacle to EU bonds …

puzzling positive link between PEAD and liquidity using a stylized model where investors agree to disagree. Empirical evidence …

This study documents that asset purchase programs can dampen market liquidity. It uses a unique dataset of global euro … bank purchases amplifies liquidity for several weeks, liquidity declines after half a year. The drop relates to the central … bank's bond inventory. It is partly mitigated by a reduction in buying, but liquidity does not fully recover. The …

We propose a methodology to build and validate a composite indicator of the market liquidity of euro-area sovereign … measurement of prevailing bond-market liquidity conditions in the four largest euro-area economies (Germany, France, Italy and … Spain). The composite indicator, which starts in 2010, allows us to put into historical context the sharp liquidity …

We study sovereign debt and default policies when credit and liquidity risk are jointly determined. To account for both … market for sovereign bonds. We quantify the effect of liquidity on sovereign spreads and welfare by performing quantitative …, we find (a) that a substantial portion of sovereign spreads is due to a liquidity premium, and (b) the liquidity premium …

We examine portfolio trading and its impact on corporate bond liquidity. Our theoretical framework identifies how … trading is generally beneficial to bond market liquidity, particularly so for riskier and illiquid bonds. However, we also … show that these positive benefits do not always arise, and that it becomes a costly solution for liquidity provision when …