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10.1016/j.jedc.2020.103916 http://scihub22266oqcxt.onion/10.1016/j.jedc.2020.103916 32341612!7185022!32341612     free     free     free Warning: file_get_contents(https://eutils.ncbi.nlm.nih.gov/entrez/eutils/elink.fcgi?dbfrom=pubmed&id=32341612&cmd=llinks): Failed to open stream: HTTP request failed! HTTP/1.1 429 Too Many Requests in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 215       J+Econ+Dyn+Control 2020 ; 116 (ä): 103916 Nephropedia Template TP {{tp|p=32341612|t=2020. Liquidity backstops and dynamic debt runs |pdf=|usr=}}{{32341612}} gab.com Text Liquidity backstops and dynamic debt runs JO: J Econ Dyn Control http://www.kidney.de/pget.php?&tw=1&pmid=32341612 #FOAvip Liquidity backstops can mitigate runs. In this paper we develop a dynamic model of debt runs based on He and Xiong (2012) to identify, both conceptually and quantitatively, the value of a liquidity backstop for its run-mitigating role. For the purpose of identification, we focus on the municipal bond markets for variable rate demand obligations and auction rate securities. Based on the run episodes in these markets during the financial crisis of 2007-09 and the calibrated model, we find that the value of a liquidity backstop is about 14.5 basis points per annum. Our findings have important policy implications regarding the effectiveness of liquidity backstops in ameliorating problems of financial instability. Twit Text FOAVip Liquidity backstops and dynamic debt runs ????J Econ Dyn Control http://www.kidney.de/pget.php?&tw=1&pmid=32341612 #FOAvip Twit Text # Free Paper on # # # # # LINK http://www.kidney.de/pget.php?&tw=1&pmid=32341612 #FOAvip English Wikipedia <ref>{{Cite pmid|32341612}}</ref> Liquidity backstops and dynamic debt runs #MMPMID32341612 Wei B; Yue VZ J Econ Dyn Control 2020[Jul]; 116 (ä): 103916 PMID32341612show ga Liquidity backstops can mitigate runs. In this paper we develop a dynamic model of debt runs based on He and Xiong (2012) to identify, both conceptually and quantitatively, the value of a liquidity backstop for its run-mitigating role. For the purpose of identification, we focus on the municipal bond markets for variable rate demand obligations and auction rate securities. Based on the run episodes in these markets during the financial crisis of 2007-09 and the calibrated model, we find that the value of a liquidity backstop is about 14.5 basis points per annum. Our findings have important policy implications regarding the effectiveness of liquidity backstops in ameliorating problems of financial instability. äLiquidity backstops and dynamic debt runs (epmc).pdf DeepDyve Pubget Overpricing