Search Results
Report
Market liquidity and trader welfare in multiple dealer markets: evidence from dual trading restrictions
Locke, Peter; Sarkar, Asani; Wu, Lifan
(1997)
Dual trading is the practice whereby futures floor traders execute trades both for their own and customers' accounts on the same day. We provide evidence, in the context of restrictions on dual trading, that aggregate liquidity measures, such as the average bid-ask spread, may be misleading indicators of traders' welfare in markets with multiple, heterogeneously skilled dealers. In our theoretical model, hedgers and informed customers trade through futures floor traders of different skill levels: more skilled floor traders attract more hedgers to trade. We show that customers' welfare and ...
Research Paper
, Paper 9721
Report
The Federal Reserve's Commercial Paper Funding Facility
Kimbrough, Karin; Marchioni, Dina; Adrian, Tobias
(2010)
The Federal Reserve created the Commercial Paper Funding Facility (CPFF) in the midst of severe disruptions in money markets following the bankruptcy of Lehman Brothers on September 15, 2008. The CPFF finances the purchase of highly rated unsecured and asset-backed commercial paper from eligible issuers via primary dealers. The facility is a liquidity backstop to U.S. issuers of commercial paper, and its creation was part of a range of policy actions undertaken by the Federal Reserve to provide liquidity to the financial system. This paper documents aspects of the financial crisis relevant to ...
Staff Reports
, Paper 423
Discussion Paper
A conference on liquidity in frictional markets
Wright, Randall; Rocheteau, Guillaume; Haubrich, Joseph G.; Weill, Pierre-Olivier
(2009-05)
This Policy Discussion Paper summarizes the papers that were presented at the Liquidity in Frictional Markets conference in November 2008. The papers, which looked at markets for assets as diverse as houses, bank loans, and electronic funds transfer, all explored that amorphous concept called liquidity and how its presenceor absenceaffects the economy.
Policy Discussion Papers
, Issue May
Journal Article
Surveys of liquid asset holdings
Weiler, Emanuel T.
(1945-09)
Federal Reserve Bulletin
, Issue Sep
Working Paper
Your house or your credit card, which would you choose?: personal delinquency tradeoffs and precautionary liquidity motives
Cohen-Cole, Ethan; Morse, Jonathan
(2009)
This paper finds strong evidence that many individuals choose to pay credit card bills even at the cost of mortgage delinquencies and foreclosures. While the popular press and some recent literature have suggested that this choice may emerge from steep declines in housing prices, we find evidence that individual-level liquidity concerns are at least as important in the decision. That is, choosing credit cards over housing suggests a precautionary liquidity preference. ; By linking the mortgage delinquency decisions to individual-level credit conditions, we are able to assess the compound ...
Supervisory Research and Analysis Working Papers
, Paper QAU09-5
Working Paper
SAFE: An early warning system for systemic banking risk
Oet, Mikhail V.; Wang, Jing; Eiben, Ryan; Gramlich, Dieter; Bianco, Timothy; Ong, Stephen J.
(2011)
This paper builds on existing microprudential and macroprudential early warning systems (EWSs) to develop a new, hybrid class of models for systemic risk, incorporating the structural characteristics of the fi nancial system and a feedback amplification mechanism. The models explain fi nancial stress using both public and proprietary supervisory data from systemically important institutions, regressing institutional imbalances using an optimal lag method. The Systemic Assessment of Financial Environment (SAFE) EWS monitors microprudential information from the largest bank holding companies to ...
Working Papers (Old Series)
, Paper 1129
Journal Article
Bagehot on the financial crises of 1825...and 2008
Anderson, Richard G.
(2009-02)
Monetary Trends
, Issue Feb
Speech
A preliminary assessment of the TALF
Dudley, William
(2009)
Remarks at the Securities Industry and Financial Markets Association and Pension Real Estate Association's Public-Private Investment Program Summit, New York City.
Speech
, Paper 6
Speech
Financial instability and the Federal Reserve as a liquidity provider : a speech at the Museum of American Finance Commemoration of the Panic of 1907, New York, New York, October 26, 2007
Mishkin, Frederic S.
(2007)
Speech
, Paper 333
Journal Article
Policy statement on privately operated netting systems, effective December 21, 1994
anonymous
(1995-02)
Federal Reserve Bulletin
, Issue Feb
, Pages 111-112
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of New York 90 items
Board of Governors of the Federal Reserve System (U.S.) 48 items
Federal Reserve Bank of St. Louis 40 items
Federal Reserve Bank of Chicago 24 items
Federal Reserve Bank of Atlanta 17 items
Federal Reserve Bank of Cleveland 16 items
Federal Reserve Bank of Minneapolis 15 items
Federal Reserve Bank of San Francisco 14 items
Federal Reserve Bank of Kansas City 13 items
Federal Reserve Bank of Richmond 8 items
Federal Reserve Bank of Dallas 5 items
Federal Reserve Bank of Philadelphia 5 items
Federal Reserve Bank of Boston 3 items
show more (8)
show less
FILTER BY Series
Speech 37 items
Staff Reports 31 items
Working Papers 22 items
Proceedings 20 items
Economic Policy Review 19 items
Finance and Economics Discussion Series 17 items
Review 15 items
Research Working Paper 11 items
FRB Atlanta Working Paper 10 items
Federal Reserve Bulletin 10 items
Working Papers (Old Series) 10 items
Research Paper 8 items
FRBSF Economic Letter 7 items
International Finance Discussion Papers 7 items
Staff Report 7 items
Economic Perspectives 6 items
Economic Review 6 items
Current Issues in Economics and Finance 5 items
Working Paper 5 items
Working Paper Series 5 items
Discussion Paper / Institute for Empirical Macroeconomics 4 items
Econ Focus 3 items
Economic Commentary 3 items
Financial Update 3 items
Quarterly Review 3 items
Working Paper Series, Issues in Financial Regulation 3 items
Business Review 2 items
Chicago Fed Letter 2 items
Globalization Institute Working Papers 2 items
Proceedings - Economic Policy Symposium - Jackson Hole 2 items
Working Paper Series, Macroeconomic Issues 2 items
Economic Letter 1 items
Economic Synopses 1 items
Economics Update 1 items
Emerging Issues 1 items
Monetary Trends 1 items
Policy Discussion Papers 1 items
Speeches and Essays 1 items
Supervisory Policy Analysis Working Papers 1 items
Supervisory Research and Analysis Working Papers 1 items
Working Paper Series / Economic Activity Section 1 items
Working Papers in Applied Economic Theory 1 items
show more (37)
show less
FILTER BY Content Type
Working Paper 98 items
Journal Article 87 items
Report 46 items
Speech 38 items
Conference Paper 22 items
Discussion Paper 5 items
Newsletter 2 items
show more (2)
show less
FILTER BY Author
Dudley, William 15 items
Sarkar, Asani 13 items
Thornton, Daniel L. 12 items
Rocheteau, Guillaume 11 items
anonymous 9 items
Christiano, Lawrence J. 8 items
Fleming, Michael J. 8 items
Adrian, Tobias 7 items
McAndrews, James J. 7 items
Lagos, Ricardo 6 items
Sack, Brian P. 6 items
Wen, Yi 6 items
Anderson, Richard G. 5 items
Martin, Antoine 5 items
Chakravarty, Sugato 4 items
Eichenbaum, Martin S. 4 items
Shin, Hyun Song 4 items
Weill, Pierre-Olivier 4 items
Wheelock, David C. 4 items
Ashcraft, Adam B. 3 items
Baxter, Thomas C. 3 items
Bech, Morten L. 3 items
Bernanke, Ben S. 3 items
Chang, Roberto 3 items
Chirinko, Robert S. 3 items
Demiralp, Selva 3 items
Furfine, Craig H. 3 items
Goldberg, Linda S. 3 items
Kambhu, John 3 items
Keister, Todd 3 items
Kroszner, Randall S. 3 items
Leeper, Eric M. 3 items
Locke, Peter 3 items
Potter, Simon M. 3 items
Schlagenhauf, Don E. 3 items
Velasco, Andres 3 items
Wrase, Jeffrey M. 3 items
Adam, Klaus 2 items
Alvarez, Fernando 2 items
Atalay, Enghin 2 items
Atkeson, Andrew 2 items
Bartolini, Leonardo 2 items
Billi, Roberto M. 2 items
Binner, Jane M. 2 items
Chordia, Tarun 2 items
Christensen, Jens H. E. 2 items
Coleman, Wilbur John 2 items
Cunningham, Thomas J. 2 items
Dotsey, Michael 2 items
Einarsson, Tor 2 items
Gilles, Christian 2 items
Goodfriend, Marvin 2 items
Gordon, David B. 2 items
Hagströmer, Björn 2 items
Han, Song 2 items
Haubrich, Joseph G. 2 items
Hilton, R. Spence 2 items
Hoover, Kevin D. 2 items
Hrung, Warren B. 2 items
Ireland, Peter N. 2 items
Keane, Frank M. 2 items
Kehoe, Patrick J. 2 items
Kennedy, Craig 2 items
Kimbrough, Karin 2 items
Krishnan, Neel 2 items
Labadie, Pamela 2 items
Marchioni, Dina 2 items
Marquis, Milton H. 2 items
Miu, Jason 2 items
Nilsson, Birger 2 items
Ohanian, Lee E. 2 items
Oliner, Stephen D. 2 items
Pagan, Adrian R. 2 items
Prati, Alessandro 2 items
Remolona, Eli M. 2 items
Roberds, William 2 items
Robertson, John C. 2 items
Rosengren, Eric S. 2 items
Rudebusch, Glenn D. 2 items
Schnure, Calvin 2 items
Schreft, Stacey L. 2 items
Shen, Pu 2 items
Stockman, Alan C. 2 items
Strahan, Philip E. 2 items
Subrahmanyam, Avanidhar 2 items
Tallman, Ellis W. 2 items
Vickery, James 2 items
Wright, Joshua 2 items
Wright, Randall 2 items
Wu, Tao 2 items
Abdalla, Khalid 1 items
Abken, Peter A. 1 items
Alix, Michael 1 items
Allardice, David R. 1 items
Altig, David E. 1 items
Ammer, John 1 items
Andolfatto, David 1 items
Antunovich, Peter 1 items
Artuc, Erhan 1 items
Auer, Raphael 1 items
Axilrod, Stephen H. 1 items
Balasubramanyan, Lakshmi 1 items
Barbade, Kenneth 1 items
Battalio, Robert 1 items
Becsi, Zsolt 1 items
Bennett, Paul 1 items
Berentsen, Aleksander 1 items
Berger, Allen N. 1 items
Bertola, Giuseppe 1 items
Bhasin, Vijay 1 items
Bianchi, Christopher 1 items
Bianco, Timothy 1 items
Bodenstein, Martin 1 items
Bouwman, Tony 1 items
Brill, Daniel H. 1 items
Broaddus, Alfred 1 items
Burger, Albert E. 1 items
Cai, Fang 1 items
Camargo, Braz 1 items
Campbell, Doug 1 items
Cao, Charles 1 items
Carlson, Mark A. 1 items
Carpenter, Seth B. 1 items
Cecchetti, Stephen G. 1 items
Cetorelli, Nicola 1 items
Champ, Bruce A. 1 items
Cho, In-Koo 1 items
Claessens, Stijn 1 items
Clouse, James A. 1 items
Cohen-Cole, Ethan 1 items
Cole, Rebel A. 1 items
Collins, Sean 1 items
Contessi, Silvio 1 items
Cumming, Christine M. 1 items
Cummins, Jason G. 1 items
D'Amico, Stefania 1 items
Da, Zhi 1 items
Dahlgren, Sarah J. 1 items
De Pace, Pierangelo 1 items
Decker, Paul A. 1 items
Denes, Matthew 1 items
Diamond, Douglas W. 1 items
Diaz-Gimenez, Javier 1 items
Diba, Behzad T. 1 items
Disyatat, Piti 1 items
Dotz, Niko 1 items
Drossos, Evangeline Sophia 1 items
Dueker, Michael J. 1 items
Dybvig, Philip H. 1 items
Edge, Rochelle M. 1 items
Eggertsson, Gauti B. 1 items
Eiben, Ryan 1 items
Elul, Ronel 1 items
Erce, Aitor 1 items
Erceg, Christopher J. 1 items
Etula, Erkko 1 items
Evans, George W. 1 items
Ezer, Michelle Steinberg 1 items
Ferguson, Roger W. 1 items
Fischer, Christoph 1 items
Fisher, Richard W. 1 items
Frame, W. Scott 1 items
Gagnon, Joseph E. 1 items
Gatev, Evan 1 items
Gilbukh, Sophia 1 items
Gilchrist, Simon 1 items
Gillan, James M. 1 items
Glick, Reuven 1 items
Goodhart, Charles A. E. 1 items
Gramlich, Dieter 1 items
Grunewald, Alan E. 1 items
Guidolin, Massimo 1 items
Haltom, Renee Courtois 1 items
Hancock, Diana 1 items
Hardouvelis, Gikas A. 1 items
Hassett, Kevin A. 1 items
Hebden, James 1 items
Heckinger, Richard 1 items
Henderson, Dale W. 1 items
Hirtle, Beverly 1 items
Honkapohja, Seppo 1 items
Humpage, Owen F. 1 items
Hutchison, Michael M. 1 items
Johnson, Kurt 1 items
Jones, Barry E. 1 items
Jordà, Òscar 1 items
Jovanovic, Boyan 1 items
Kahn, Charles M. 1 items
Kashyap, Anil K. 1 items
Kaufman, George G. 1 items
Kawano, Laura 1 items
Kelly, David L. 1 items
Keran, Michael W. 1 items
Kiely, Joseph K. 1 items
Kim, Don H. 1 items
King, Thomas B. 1 items
Klagge, Nicholas 1 items
Kofman, Paul 1 items
Koppl, Thorsten V. 1 items
Kraenzlin, Sebastien 1 items
Krainer, John 1 items
Landau, Jean-Pierre 1 items
LeRoy, Stephen F. 1 items
Leitner, Yaron 1 items
Lester, Benjamin 1 items
Li, Dan 1 items
Li, Victor E. 1 items
Li, Yiting 1 items
Lindé, Jesper 1 items
Liu, Qianqiu 1 items
Longstreet, Victor M. 1 items
Lopez, Jose A. 1 items
Ludvigson, Sydney 1 items
MacGee, James 1 items
Malz, Allan M. 1 items
Marshall, David A. 1 items
Mason, Joseph R. 1 items
McMenamin, Robert 1 items
Mehran, Hamid 1 items
Melick, William R. 1 items
Menkveld, Albert J. 1 items
Miller, Thomas W. 1 items
Mishkin, Frederic S. 1 items
Moen, Jon R. 1 items
Mohey-Deen, Zain 1 items
Moore, Kevin B. 1 items
Morgan, Donald P. 1 items
Morse, Jonathan 1 items
Moser, James T. 1 items
Mosser, Patricia C. 1 items
Myers, Stewart 1 items
Nachman, David C. 1 items
Nunes, Ricardo 1 items
O'Regan, Vaughn 1 items
Oet, Mikhail V. 1 items
Oh, Seonghwan 1 items
Ong, Stephen J. 1 items
Orphanides, Athanasios 1 items
Parkhurst, Charles H. 1 items
Paulson, Anna L. 1 items
Petrasek, Lubomir 1 items
Pierce, James L. 1 items
Plaut, Steven 1 items
Pollock, Alex J. 1 items
Pozsar, Zoltan 1 items
Prescott, Edward C. 1 items
Price, Joe L. 1 items
Pritsker, Matthew 1 items
Rajan, Raghuram G. 1 items
Ramos, Alberto M. 1 items
Raskin, Matthew 1 items
Remache, Julie 1 items
Rose, Andrew K. 1 items
Rosen, Richard J. 1 items
Roush, Jennifer E. 1 items
Rousseau, Peter L. 1 items
Santos, João A. C. 1 items
Schaller, Huntley 1 items
Schaumburg, Ernst 1 items
Schuermann, Til 1 items
Schultz, T. Paul 1 items
Shrader, Jeffrey 1 items
Skeie, David R. 1 items
Small, David H. 1 items
Smith, Bruce 1 items
Smith, Stephen D. 1 items
Sofianos, George 1 items
Soramaki, Kimmo 1 items
Spiegel, Mark M. 1 items
Sporn, John 1 items
Starr, Ross M. 1 items
Steigerwald, Robert 1 items
Stein, Jeremy C. 1 items
Strongin, Steven 1 items
Sundaresan, Suresh 1 items
Tinsley, Peter A. 1 items
Udell, Gregory F. 1 items
Van der Wel, Michel 1 items
VanHoose, David D. 1 items
Venkataraman, Subu 1 items
Villamil, Anne P. 1 items
Wall, Larry D. 1 items
Waller, Christopher J. 1 items
Wang, Jing 1 items
Wang, Junbo 1 items
Wang, Ping 1 items
Wang, Zhenyu 1 items
Warsh, Kevin M. 1 items
Wei, Min 1 items
Weiler, Emanuel T. 1 items
Whited, Toni M. 1 items
Wilcox, James A. 1 items
Williams, John C. 1 items
Winton, Andrew 1 items
Wu, Chunchi 1 items
Wu, Lifan 1 items
Yu, Dahai 1 items
Zhang, Frank X. 1 items
Zhou, Hao 1 items
Zhou, Ruilin 1 items
show more (295)
show less