## ABSTRACT Banks have a unique ability to hedge against marketβwide liquidity shocks. Deposit inflows provide funding for loan demand shocks that follow declines in market liquidity. Consequently, banks can insure firms against systematic declines in liquidity at lower cost than other institutions
β¦ LIBER β¦
Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market
β Scribed by EVAN GATEV; PHILIP E. STRAHAN
- Book ID
- 109176280
- Publisher
- John Wiley and Sons
- Year
- 2006
- Tongue
- English
- Weight
- 229 KB
- Volume
- 61
- Category
- Article
- ISSN
- 0022-1082
No coin nor oath required. For personal study only.
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