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Title:Interbank Market Liquidity and Central Bank Intervention Author(s):ALLEN, Franklin; CARLETTI, Elena
; GALE, DouglasDate:2009Type:Working PaperSeries/Number:EUI ECO; 2009/09Abstract:We develop a simple model of the interbank market where banks trade a long term, safe asset. We show that when there is a lack of opportunities for banks to hedge aggregate and idiosyncratic liquidity shocks, the interbank ...
; GALE, DouglasDate:2009Type:Working PaperSeries/Number:EUI ECO; 2009/09Abstract:We develop a simple model of the interbank market where banks trade a long term, safe asset. We show that when there is a lack of opportunities for banks to hedge aggregate and idiosyncratic liquidity shocks, the interbank ...