Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis

By V. Acharya, O. Merrouche. 2010

352 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/3d5781b423e53fb2b1b1d787f50054b3e935f710

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Citations in the corpus

Where the Risks Lie: A Survey on Systemic Risk (2017, critical): “However, they report no evidence of liquidity hoarding, in contrast with the predictions of the theoretical model of Allen, Carletti, and Gale (2009) and empirical findings from the UK interbank market (Acharya and Merrouche, 2013) and the euro area (Gabrieli and Georg, 2014).”
Effects of Central Bank Intervention on the Interbank Market During the Subprime Crisis (2011, positive): “Our findings make several contributions to the existing literature and are consistent with Acharya and Merrouche’s (2009) evidence of precautionary liquidity hoarding in the UK market.”
Short-Term Wholesale Funding and Systemic Risk: A Global Covar Approach (2012, background): “This feature makes the possibility of fire sales more likely and causes risk externalities to other intermediaries holding the same asset classes; see, among others, Brunnermeier (2009), Ratnovski (2009), Acharya and Merrouche (2010), and Allen et al. (2010). Consequently, short-term wholesale fundi”
Strategic Complementarity, Fragility, and Regulation (2014, neutral): “2011; Acharya and Merrouche 2012). The latter refers to the reluctance of banks to borrow from the discount window because of fear that the bad news will become publicly known. Armantier et al. (2011) report that, during the crisis, many banks borrowed from the Term Auction Facility (where the borro”
Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007--2009 Crisis (2013, neutral): “Acharya and Merrouche (2012) find evidence”
The Hazards of Debt: Rollover Freezes, Incentives, and Bailouts (2012, neutral): “1 See, for example, He and Xiong(2011a), Morris and Shin(2009), Acharya(2010), Gorton and Metrick(2011), andBrunnermeier(2009).”
Liquidity hoarding and interbank market rates: The role of counterparty risk (2015, neutral): “Using information about the reserve accounts at the Bank of England of large UK settlement banks, Acharya and Merrouche (2013) find evidence of precautionary hoarding of liquidity.”
Measuring Liquidity Mismatch in the Banking Sector: Measuring Liquidity Mismatch in the Banking Sector (2017, neutral): “There is also a banking and corporate finance literature that explores the determinants of liquidity holdings on a firm’s balance sheet, for example, Heider, Hoerova, and Holhausen (2009), Acharya and Merrouche (2013) and Acharya and Rosa (2013). In most of this literature, liquidity is defined as t”