Showing posts with label Liquidity insurance. Show all posts
Showing posts with label Liquidity insurance. Show all posts
Saturday, October 24, 2015

Liquidity liquidity everywhere but not a drop to drink

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One of Gustave Doré's illustrations of The Rime of the Ancient Mariner , plate 4 The minsicule bid ask spreads we see in financial ...
7 comments:
Tuesday, October 28, 2014

Fear of illiquidity

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There are thousands of fears, from arachnophobia to globophobia (fear of balloons) to zoophobia (fear of animals). What might the fea...
12 comments:
Wednesday, October 31, 2012

A visual review of the lending facilities created by the Fed during the credit crisis

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I'm currently updating my History of the Fed chart . As a side project, here's what's happened to the various Federal Reserve c...
Thursday, May 17, 2012

The free banking alternative to the centralized provision of lender of last resort services

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Inspired by Perry Mehrling and Fischer Black: I think I'd take your future ideal financial model even further (slide 9). The C5 in yo...
5 comments:
Friday, May 4, 2012

Did the Canadian government subsidize the big banks? The problem with pricing liquidity

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Nick Rowe had a good comment on the CCPA's recent allegation that Canada's big banks were subsidized by taxpayers. In the comments ...
Wednesday, April 11, 2012

Fisher Black's dream

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Perry Merhling had an interesting quote from Fischer Black: Thus a long term corporate bond could actually be sold to three separate perso...
Saturday, March 10, 2012

If Iceland were to adopt the Canadian dollar

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Nick Rowe brings up the topic. There are plenty of interesting comments there on how this would work. In particular, how would the Icelan...
Saturday, December 10, 2011

Bagehot, Liquidity Insurance, and LOLR

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Commented at Macromania on "On Bagehot's Penalty Rate" .  I think you have captured an inconsistency in the Bagehot principl...