Financial liquidity, geopolitics, and oil prices
نویسندگان
چکیده
منابع مشابه
Financial Fragility , Liquidity , and Asset Prices
We de ne a nancial system to be fragile if small shocks have disproportionately large e¤ects. In a model of nancial intermediation, we show that small shocks to the demand for liquidity cause either high assetprice volatility or bank defaults or both. Furthermore, as the liquidity shocks become vanishingly small, the asset-price volatility is bounded away from zero. In the limit economy, with...
متن کاملLiquidity, Asset Prices and Financial Policy
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متن کاملFinancial System Liquidity, Asset Prices and Monetary Policy
Monetary policy works through changes in asset prices – especially through its impact on long-term interest rates. As well as affecting the economy through the usual ‘IS’ relationships – through consumption and investment – monetary policy has wider repercussions. It affects balance sheets through changes in the relative prices of liabilities and assets, the availability of credit and through p...
متن کاملLiquidity and Asset Prices *
We broadly define liquid assets, or monetary assets, as any asset that can be readily sold in the market and can be held by a number of people in succession before maturity. We ask in what environment is the circulation of liquid assets essential for the smooth running of the economy. By developing a canonical model of a monetary economy (i.e., where the circulation of liquid assets is essentia...
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ژورنال
عنوان ژورنال: Energy Economics
سال: 2020
ISSN: 0140-9883
DOI: 10.1016/j.eneco.2019.104482