interbank markets. Money markets enable banks to engage in risk-sharing against liquidity shocks and are sensitive to global … liquidity shocks to EMs as compared to benchmark short-term bond yields. Next, we disentangle the transmission into its various … of macro-prudential policy like reserve requirements can help alleviate liquidity shocks to the EM banking system …

shock related to the U.S. tapering observed between May and September of 2013. We find that both liquidity shocks are …This paper examines the impact of exogenous liquidity shocks in the unsecured interbank market. We evaluate the effects … of idiosyncratic liquidity shocks - arising from deposits outflow at the bank level - and of the aggregate liquidity …

We provide new international evidence for a monetary policy liquidity transmission channel in the United States, United … downward spiral after an unexpected arrival of a financial market illiquidity shock. In order to uncover this transmission … channel, we rely on a nonlinear and international economic set-up to distinguish between times of liquidity crisis and non …

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 … restrictions imposed. The shock proxies the reluctance of the banking sector to "lend" to the real economy induced by an exogenous …

shown that nonoptimal equilibria of constrained liquidity may arise. Optimality may be restored by temporary expansions of …

restrictions on stock market changes around the announcement to separate structural monetary policy shock from central bank …

-Wicksellian paradigm. A general form of an aggregate-demand equation reveals a role for liquidity, as well as less effective movements in …

satisfies the restrictions. Their method generates impulse responses that are consistent with macroeconomic theory, but that …