| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12248 |
| DP12248 Market Liquidity after the Financial Crisis | |
| Tobias Adrian; Michael J. Fleming; Or Shachar; Erik Vogt | |
| 发表日期 | 2017-08-25 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper examines market liquidity in the post-crisis era in light of concerns that regulatory changes might have reduced dealers' ability and willingness to make markets. We begin with a discussion of the broader trading environment, including an overview of regulations and their potential effects on dealer balance sheets and market making, but also considering additional drivers of market liquidity. We document a stagnation of dealer balance sheets after the financial crisis of 2007-09, which occurred concurrently with dealer balance sheet deleveraging. However, using high-frequency trade and quote data for U.S. Treasuries and corporate bonds, we find only limited evidence of a deterioration in market liquidity. |
| 主题 | Financial Economics |
| 关键词 | Liquidity Market making Treasury securities Corporate bonds Regulation |
| URL | https://cepr.org/publications/dp12248 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541059 |
| 推荐引用方式 GB/T 7714 | Tobias Adrian,Michael J. Fleming,Or Shachar,et al. DP12248 Market Liquidity after the Financial Crisis. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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