Capital Markets: Publications

Research focusing on asset pricing and financial market liquidity and on the interaction between markets, institutions, and the macroeconomy.
Liberty Street Economics
Just Released: The 2013 SOMA Annual Report in a Historical Context
Alyssa Cambron, Michael Fleming, Deborah Leonard, Grant Long, and Julie Remache
April 17, 2014
The Failure Resolution of Lehman Brothers
Michael Fleming and Asani Sarkar
April 3, 2014
Convexity Event Risks in a Rising Interest Rate Environment
Allan M. Malz, Ernst Schaumburg, Roman Shimonov, and Andreas Strzodka
March 24, 2014
A Way With Words: The Economics of the Fed’s Press Conference
Fernando Duarte and Carlo Rosa
November 25, 2013
Intermediary Leverage Cycles and Financial Stability
Tobias Adrian and Nina Boyarchenko
November 20, 2013
On the Design of Monetary and Macroprudential Policies
Bianca De Paoli and Matthias Paustian
November 13, 2013
A special series on the Liquidity
Liquidity Risk, Liquidity Management, and Liquidity Policies
Tobias Adrian and João Santos
April 14, 2014
Depositor Discipline of Risk-Taking by U.S. Banks
Stavros Peristiani and João Santos
April 14, 2014
On Fire-Sale Externalities, TARP Was Close to Optimal
Fernando Duarte and Thomas Eisenbach
April 15, 2014
Liquidity Policies and Systemic Risk
Tobias Adrian and Nina Boyarchenko
April 17, 2014
Staff Reports
LIBOR: Origins, Economics, Crisis, Scandal, and Reform
David Hou and David Skeie
Number 667  March 2014
Financial Stability Policies for Shadow Banking
Tobias Adrian
Number 664   February2014
Liquidity Policies and Systemic Risk
Tobias Adrian and Nina Boyarchenko
Number 661   December 2013
The Over-the-Counter Theory of the Fed Funds Market: A Primer
Gara Afonso and Ricardo Lagos
Number 660   December 2013
Noisy Information and Fundamental Disagreement
Philippe Andrade, Richard K. Crump, Stefano Eusepi, and Emanuel Moench
Number 655  December 2013
ECB Monetary Operations and the Interbank Repo Market
Peter G. Dunne, Michael J. Fleming, and Andrey Zholos
Number 654  December 2013
The Effects of Policy Guidance on Perceptions of the Fed’s Reaction Function
Katherine Femia, Steven Friedman, Brian Sack
Number 652  November 2013
Intermediary Balance Sheets
Tobias Adrian and Nina Boyarchenko
Number 651  November 2013
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