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Liquidity in the Cross Section of OTC Assets

Guner Velioglu, Semih Uslu   Feb 06,2024

Working Paper No.00138-00

We develop a dynamic model of a multi-asset over-the-counter (OTC) market that operates via search and bargaining and empirically test... Read More

Debt Maturity Choice and Aggregate Growth

Orit Milo, Jacob Sagi   Jul 10,2023

Working Paper No.00103-00

We find that a measure of aggregate corporate debt maturity choices strongly predicts real GDP growth. The new measure compares... Read More

The Coming Battle of Digital Currencies

Simon Mayer , Lin William Cong (叢林)   Nov 28,2022

Working Paper No.00089-00

We model the dynamic competition among national fiat currencies, cryptocurrencies, and Central Bank Digital Currencies (CBDCs), whereby countries strategically digitize... Read More

Treasury Inconvenience Yields during the COVID-19 Crisis

Stefan Nagel,Zhaogang Song, Zhiguo He   Nov 07,2020

Working Paper No.00067-00

In sharp contrast to most previous crisis episodes, the Treasury market experienced severe stress and illiquidity during the COVID-19 crisis,... Read More

Collateral Booms and Information Depletion

Luc Laeven,Alberto Martin, Vladimir Asriyan   Nov 05,2019

Working Paper No.00054-00

We develop a new theory of information production during credit booms. Entrepreneurs need credit to undertake investment projects, some of... Read More

Published: Review of Economic Studies, 2021, (), -

Liquidity Sentiments

Brett Green , Vladimir Asriyan William Fuchs   Mar 12,2019

Working Paper No.00034-03

We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents'... Read More

Published: American Economic Review, 2019, (), -