Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Last searches

Results for *

Displaying results 1 to 8 of 8.

  1. Helicopter Drops and Liquidity Traps
    Author: Amador, Manuel; Bianchi, Javier
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We show that if the central bank operates without commitment and faces constraints on its balance sheet, helicopter drops can be a useful stabilization tool during a liquidity trap. With commitment, even with balance sheet constraints, helicopter... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Freiburg
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Inter-library loan:
    No inter-library loan

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    We show that if the central bank operates without commitment and faces constraints on its balance sheet, helicopter drops can be a useful stabilization tool during a liquidity trap. With commitment, even with balance sheet constraints, helicopter drops are irrelevant

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31046
    Subjects: Geldpolitik; Liquiditätspräferenz; Liquidität; Theorie; Price Level; Inflation; Deflation; Monetary Policy; Central Banks and Their Policies; Policy Objectives; Policy Designs and Consistency; Policy Coordination; Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  2. Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets
    Author: Acharya, Viral V.; Chauhan, Rahul S.; Rajan, Raghuram Govind; Steffen, Sascha
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    When the Federal Reserve (Fed) expanded its balance sheet via quantitative easing (QE), commercial banks financed reserve holdings with deposits and reduced their average maturity. They also issued lines of credit to corporations. However, when the... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Freiburg
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Inter-library loan:
    No inter-library loan

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    When the Federal Reserve (Fed) expanded its balance sheet via quantitative easing (QE), commercial banks financed reserve holdings with deposits and reduced their average maturity. They also issued lines of credit to corporations. However, when the Fed halted its balance-sheet expansion in 2014 and even reversed it during quantitative tightening (QT) starting in 2017, there was no commensurate shrinkage of these claims on liquidity. Consequently, the financial sector was left more sensitive to potential liquidity shocks, with weaker-capitalized banks most exposed. This necessitated Fed liquidity provision in September 2019 and again in March 2020. Liquidity-risk-exposed banks suffered the most drawdowns and the largest stock price declines at the onset of the Covid crisis in March 2020. The evidence suggests that the expansion and shrinkage of central bank balance sheets involves tradeoffs between monetary policy and financial stability

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31050
    Subjects: Geldpolitik; Quantitative Lockerung; Liquidität; Mindestreserve; Bankenliquidität; USA; Banks; Depository Institutions; Micro Finance Institutions; Mortgages
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  3. Reversals and the Returns to Liquidity Provision
    Author: Dai, Wei; Medhat, Mamdouh; Novy-Marx, Robert; Rizova, Savina
    Published: February 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Different aspects of liquidity impact the performance of short-run reversals in different ways, consistent with the predictions of microstructure models. Higher volatility is associated with faster, initially stronger reversals, while lower turnover... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Freiburg
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Inter-library loan:
    No inter-library loan

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    Different aspects of liquidity impact the performance of short-run reversals in different ways, consistent with the predictions of microstructure models. Higher volatility is associated with faster, initially stronger reversals, while lower turnover is associated with more persistent, ultimately stronger reversals. These facts also hold outside the US and explain several seemingly disparate results in the literature

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30917
    Subjects: Liquidität; Kapitalmarktrendite; Theorie; General; Asset Pricing; Trading Volume; Bond Interest Rates
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  4. Makroökonomische Effekte der von der Bundesregierung im Rahmen der COVID-19-Krise gesetzten Maßnahmen
    Author: Scheiblecker, Marcus; Kaniovski, Serguei; Url, Thomas; Ertl, Martin; Hofer, Helmut; Reiter, Michael; Weyerstrass, Klaus; Berger, Johannes; Schwarzbauer, Wolfgang; Strohner, Ludwig; Pichler, Paul
    Published: Jänner 2023
    Publisher:  WIFO, Österreichisches Institut für Wirtschaftsforschung, Wien

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    C 285411
    Inter-library loan:
    Unlimited inter-library loan, copies and loan
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Contributor: Czaloun, Astrid (MitwirkendeR); Einsiedl, Martina (MitwirkendeR); Glauninger, Ursula (MitwirkendeR); Kaufmann, Christine (MitwirkendeR); Schobert, Cornelia (MitwirkendeR); Steiner, Martha (MitwirkendeR)
    Language: German
    Media type: Book
    Format: Print
    Subjects: Coronavirus; Epidemie; Wirtschaftliche Anpassung; Wirtschaftspolitik; Lockdown; Wirkungsanalyse; Subvention; Liquidität; Insolvenz; Österreich
    Scope: IV, 94 Seiten, Illustrationen, 30 cm
  5. Day Traders, Noise, and Cost of Immediacy
    Author: Dalvi, Manoj; Deuskar, Prachi; Glosten, Lawrence R.; Jagannathan, Ravi
    Published: April 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We identify different roles traders play using data with trader identities for all transactions in SENSEX-index stocks on the Bombay Stock Exchange from January 2005 to December 2011. Individual day traders (IDT) are identified as "noise traders",... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Freiburg
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Inter-library loan:
    No inter-library loan

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    We identify different roles traders play using data with trader identities for all transactions in SENSEX-index stocks on the Bombay Stock Exchange from January 2005 to December 2011. Individual day traders (IDT) are identified as "noise traders", who play an important role in the market microstructure literature. We measure the impact of their activity on market liquidity and trading of other market participants. IDT contribute 10% to volume while losing 3.2 bp (73% of the half-spread) on average on trades with others, including proprietary day traders (PDT), the primary intraday-liquidity providers, and longer-term traders. While we find some evidence that supports learning among IDT about their own ability and about how to trade, they continue to participate in the market even after losing for a long period. Instrumental variable regressions show that IDT activity reduces bid ask spread and increases intra-day volatility and total volume traded. The volume traded by PDT and the number of PDT active in the market also increase, but PDT profitability stays unchanged with increased IDT activity. This pattern is consistent with competition among PDT. Our results highlight the importance of IDT's presence in lubricating financial markets

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31127
    Subjects: Börsenmakler; Börsenhandel; Wertpapierhandel; Spekulation; Liquidität; Börsenkurs; Volatilität; Bombay; Information and Market Efficiency; Event Studies; Insider Trading; International Financial Markets
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  6. The international supply of reserve currency
    Author: Benigno, Pierpaolo
    Published: 17 December 2023
    Publisher:  Centre for Economic Policy Research, London

    Access:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 161
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Mannheim
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18686
    Subjects: Reservewährung; Liquidität; Internationales Währungssystem; Konjunktur; Stabilität; Theorie
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  7. Helicopter drops and liquidity traps
    Author: Amador, Manuel; Bianchi, Javier
    Published: April 2023
    Publisher:  Federal Reserve Bank of Minneapolis, Minneapolis, MN

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 409
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Edition: Revised April 2023
    Series: Working paper / Research Division, Federal Reserve Bank of Minneapolis ; no. 797
    Subjects: Geldpolitik; Liquiditätspräferenz; Liquidität; Theorie; Zero lower bound; Helicopter drops; Liquidity traps; Central bank independence; Monetary policy; Time consistency problem
    Scope: 1 Online-Ressource (circa Seiten)
  8. Essays on short-term funding markets
    Author: Ballensiefen, Benedikt
    Published: 2023

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Dissertation
    Format: Online
    Other identifier:
    hdl: 20.500.14171/107699
    5266
    Subjects: Finanzierung; Liquidität; Geldmarkt; Geldpolitik; Bewertung; Staatsanleihe; monetary policy; liquidity; Funding; money market; bond; asset pricing
    Scope: 1 Online-Ressource (circa 228 Seiten), Illustrationen
    Notes:

    Dissertation, University of St.Gallen, 2022