excess liquidityThis paper analyses the implications of a continued divergence of TARGET2 balances for monetary policy in the euro area. The accumulation of TARGET2 claims (liabilities) would make the ECB's liquidity management asymmetric once the TARGET2 claims in core countries have crowded out ...
Efficient Monetary Allocations and the Illiquidity of Bonds - Boel, Camera - 2006 () Citation Context ...d model, but the redistributive implications 2... P Boel,G Camera - 《Journal of Monetary Economics》 被引量: 91发表: 2006年 MANAGING CORPORATE LIQUIDITY: STRATEGIES ANDrnPRICING IMPLICATIO...
We study how managers respond to hurricane events when their firms are located in the neighborhood of the disaster area. We find that the sudden shock to the perceived liquidity risk leads managers to increase corporate cash holdings and... O Dessaint,A Matray - 《Working Papers》 被引量: ...
banks extensively accessed the ECB’s facilities. As there has been little demand for borrowing in the real economy, banks first parked the excess cash with the ECB, then started to return the liquidity once they
347–, Chengsi and Hong Pang, 2008, “Excess liquidity and inflation dynamics in China: 1997–2007,”China & World Economy, Vol. 16, No. 4, pp. 1–15.(Edited by Xiaoming Feng)©2009 The AuthorsJournal compilation ©2009 Institute of World Economics and Politics, Chinese Academy of ...
In an effort to explain simultaneously the excess return predictability observed in equity, bond and foreign exchange markets, we incorporate preferences exhibiting first-order risk aversion into a general equilibrium two-country monetary model. When we calibrate the model to US and Japanese data, we...
Q1 2025 Outlook: A test of market and economic resilience 22 Jan We enter 2025 being constructive on higher yielding credit and global equities on a ... in insights Equity Capturing the growth opportunity across dynamic Asia 22 Jan |Arthur Chai,John Tsai ...
On the one hand, flippers provide market liquidity and, more importantly, contribute to price discovery because flipping could be a rational response to underwriter mispricing (Krigman et al. (1999)). On the other hand, flippers put downward pressure on the stock price, especially during cold ...
Although ICE offers futures contracts on EUAs for different maturities, we have used the future contract of one month to mitigate liquidity concerns. In addition to the EUA market futures and spot prices, we utilize the marine bunker prices of heavy-sulfur fuel oil (HFLSO), represented by ...
Liquidity trap limits the monetary expansion and reduces the effectiveness of monetary policy in combating recessions. It is called liquidity trap because any increase in money supply does not result in any decrease in the interest rate and the economy is trapped in liquidity (i.e. excess money)...