We present findings on the secondary market liquidity of government and covered bonds in Denmark before, during and … markets but the government bond market experienced a brief but pronounced decline in market liquidity while liquidity in the … autumn of 2008. After the crisis, liquidity in the government bond market quickly rebounded and government bonds again became …

segments that are both government guaranteed but differ in their liquidity. We show that its characteristics strongly depend on … depend on inventory risk, short maturities are highly sensitive to liquidity preferences (flight-to-liquidity). Therefore … liquidity ; term structure of illiquidity premiums ; regime-switching ; financial crisis ; flight-to-liquidity …

equilibrium market liquidity, and that the magnitude of this effect is sensitive to the market's information environment. We test …-the-run Treasury securities decline on days when POMOs are executed; and ii) POMOs' positive liquidity externalities are increasing in …

a measure of liquidity based on the standard deviation of yields of those bonds that are used to compute the average …