Michael J. Fleming : Citation Profile


Federal Reserve Bank of New York (50% share)
Federal Reserve Bank of New York (50% share)

21

H index

37

i10 index

1852

Citations

RESEARCH PRODUCTION:

32

Articles

113

Papers

1

Chapters

RESEARCH ACTIVITY:

   30 years (1995 - 2025). See details.
   Cites by year: 61
   Journals where Michael J. Fleming has often published
   Relations with other researchers
   Recent citing documents: 85.    Total self citations: 36 (1.91 %)

MORE DETAILS IN:
ABOUT THIS REPORT:

   Permalink: http://citec.repec.org/pfl35
   Updated: 2025-12-27    RAS profile: 2025-04-28    
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Relations with other researchers


Works with:

Shachar, Or (8)

Van Tassel, Peter (5)

Adrian, Tobias (3)

Duffie, Darrell (2)

Vega, Clara (2)

Liu, Haoyang (2)

Authors registered in RePEc who have co-authored more than one work in the last five years with Michael J. Fleming.

Is cited by:

Adrian, Tobias (23)

Beetsma, Roel (19)

Smales, Lee (17)

Sarkar, Asani (17)

Nagel, Stefan (16)

Carlson, Mark (15)

Wright, Jonathan (14)

Fratzscher, Marcel (14)

Hautsch, Nikolaus (14)

Ehrmann, Michael (14)

Neely, Christopher (13)

Cites to:

Adrian, Tobias (27)

Remolona, Eli (20)

Shachar, Or (17)

Garbade, Kenneth (14)

Duffie, Darrell (12)

Engle, Robert (11)

Poterba, James (10)

Mizrach, Bruce (8)

Venti, Steven (8)

Wise, David (7)

Hautsch, Nikolaus (7)

Main data


Where Michael J. Fleming has published?


Journals with more than one article published# docs
Economic Policy Review10
Current Issues in Economics and Finance7
Journal of Financial Economics2
Journal of Financial Markets2

Working Papers Series with more than one paper published# docs
Liberty Street Economics / Federal Reserve Bank of New York68
Staff Reports / Federal Reserve Bank of New York32
FEDS Notes / Board of Governors of the Federal Reserve System (U.S.)3
Research Paper / Federal Reserve Bank of New York3
BIS Working Papers / Bank for International Settlements2
Research Technical Papers / Central Bank of Ireland2

Recent works citing Michael J. Fleming (2025 and 2024)


YearTitle of citing document
2024Financial Market Development and the Microstructure of Corporate Bond Markets in Africa: A Survey. (2024). Ojah, Kalu ; Oluoch, Wycliffe. In: The African Finance Journal. RePEc:afj:journl:v:26:y:2024:i:1:p:1-33.

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2025Macroscopic Market Making. (2025). Jin, Shijia ; Nam, Kihun ; Guo, Ivan. In: Papers. RePEc:arx:papers:2307.14129.

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2024The impact of Facebook-Cambridge Analytica data scandal on the USA tech stock market: An event study based on clustering method. (2024). Wan, Yinan ; Jeleskovic, Vahidin. In: Papers. RePEc:arx:papers:2402.14206.

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2024Adaptive Optimal Market Making Strategies with Inventory Liquidation Cos. (2024). Zhang, YI ; Jos'e E. Figueroa-L'opez, ; Ch, Jonathan ; Yu, Chuyi. In: Papers. RePEc:arx:papers:2405.11444.

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2024Forecasting High Frequency Order Flow Imbalance. (2024). Jain, Shashi ; Anantha, Aditya Nittur. In: Papers. RePEc:arx:papers:2408.03594.

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2025What Drives Liquidity on Decentralized Exchanges? Evidence from the Uniswap Protocol. (2025). Bachu, Brad ; Moallemi, Ciamac C ; Liao, Gordon ; Wan, Xin ; Zhu, Brian Z ; Liu, Dingyue. In: Papers. RePEc:arx:papers:2410.19107.

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2025Shifting Power: Leveraging LLMs to Simulate Human Aversion in ABMs of Bilateral Financial Exchanges, A bond market study. (2025). Walsh, Toby ; Vidler, Alicia. In: Papers. RePEc:arx:papers:2503.00320.

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2025Green Shields: The Role of ESG in Uncertain Time. (2025). Stasiulaitis, Dominykas ; Kansoy, Fatih. In: Papers. RePEc:arx:papers:2506.02143.

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2025Returns and Order Flow Imbalances: Intraday Dynamics and Macroeconomic News Effects. (2025). Takahashi, Makoto. In: Papers. RePEc:arx:papers:2508.06788.

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2025Monetary Policy Shocks: A New Hope. Large Language Models and Central Bank Communication.. (2025). Fernndez-Fuertes, Rubn. In: BAFFI CAREFIN Working Papers. RePEc:baf:cbafwp:cbafwp25257.

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2025Are Hedge Funds a Hedge for Increasing Government Debt Issuance?. (2025). Epp, Adam ; Gao, Jeffrey. In: Discussion Papers. RePEc:bca:bocadp:25-07.

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2025Les fonds de couverture : un filet pour l’augmentation des émissions d’obligations du gouvernement?. (2025). Epp, Adam ; Gao, Jeffrey. In: Discussion Papers. RePEc:bca:bocadp:25-07fr.

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2025On-the-run Premia, Settlement Fails, and Central Bank Access. (2025). Schneider, Fabienne. In: Staff Working Papers. RePEc:bca:bocawp:25-19.

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2025Non-Bank Dealing and Liquidity Bifurcation in Fixed-Income Markets. (2025). Cimon, David ; Brolley, Michael. In: Staff Working Papers. RePEc:bca:bocawp:25-2.

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2025Money Talks: Transaction Costs, the Value of Convenience, and the Cross-Section of Safe Asset Returns. (2025). Nenov, Plamen ; Schneider, Fabienne ; Syrstad, Olav ; Juelsrud, Ragnar. In: Staff Working Papers. RePEc:bca:bocawp:25-34.

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2024The fundamental role of the repo market and central clearing. (2024). di Luigi, Cristina ; Perrella, Antonio ; Ruggieri, Alessio. In: Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems). RePEc:bdi:wpmisp:mip_048_24.

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2024Through stormy seas: how fragile is liquidity across asset classes and time?. (2024). Aquilina, Matteo ; Aliyev, Nihad ; Rzayev, Khaladdin ; Zhu, Sonya. In: BIS Working Papers. RePEc:bis:biswps:1229.

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2024Collateral Monetary Policy, Regional Financial Development, and Nonfi nancial Firms Shadow Banking Activities. (2024). Kapitsinis, Nikos ; Ren, Jiawen ; Jiang, Hai ; Yuan, Chao. In: China & World Economy. RePEc:bla:chinae:v:32:y:2024:i:5:p:166-196.

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2024Treasury Bill Shortages and the Pricing of Short‐Term Assets. (2024). Vandeweyer, Quentin ; D'Avernas, Adrien. In: Journal of Finance. RePEc:bla:jfinan:v:79:y:2024:i:6:p:4083-4141.

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2025Investors as a liquidity backstop in corporate bond markets. (2025). Foucault, Thierry ; Comerton-Forde, Carole ; Jurkatis, Simon. In: Bank of England working papers. RePEc:boe:boeewp:1126.

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2024Exchanges for government bonds? Evidence during COVID-19. (2024). Nathan, Daniel ; Kutai, Ari ; Wittwer, Milena. In: Bank of Israel Working Papers. RePEc:boi:wpaper:2024.03.

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2024What’s so Inconvenient About TIPS?. (2024). Lee, Sukjoon ; Herrenbrueck, Lucas ; Geromichalos, Athanasios. In: Working Papers. RePEc:cda:wpaper:364.

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2025Capital markets union: a deep dive - Five measures to foster a single market for capital. (2025). Arampatzi, Alexia-Styliani ; Christie, Rebecca ; van Overbeek, Fons ; Rouveyrol, Clment ; Parisi, Laura ; Evrard, Johanne. In: Occasional Paper Series. RePEc:ecb:ecbops:2025369.

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2024Central bank asset purchases and auction cycles revisited: new evidence from the euro area. (2024). Ferrara, Federico Maria. In: Working Paper Series. RePEc:ecb:ecbwps:20242927.

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2024Outages in sovereign bond markets. (2024). Kerssenfischer, Mark ; Helmus, Caspar. In: Working Paper Series. RePEc:ecb:ecbwps:20242944.

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2025Flexible asset purchases and repo market functioning. (2025). Poinelli, Andrea ; Grasso, Adriana. In: Working Paper Series. RePEc:ecb:ecbwps:20253013.

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2025From purchases to exit: central bank interventions in corporate debt markets. (2025). Breckenfelder, Johannes ; Schepens, Glenn. In: Working Paper Series. RePEc:ecb:ecbwps:20253055.

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2025The asymmetric relationship between state media tone and the Chinese bond market during COVID-19: Evidence from a nonlinear ARDL model. (2025). Jiang, Yanhui ; Hong, Yun ; He, Yinxi ; Yu, LI ; Deng, Chao ; Chen, Keyuan. In: Journal of Behavioral and Experimental Finance. RePEc:eee:beexfi:v:46:y:2025:i:c:s2214635025000292.

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2025Upholding integrity: The influence of executives’ backgrounds on corporate information environment. (2025). Vu, Ngan Hoang ; Nguyen, Hung T ; Dang, Ha V ; Pham, Mia Hang. In: Journal of Behavioral and Experimental Finance. RePEc:eee:beexfi:v:46:y:2025:i:c:s2214635025000310.

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2024Risks and risk premia in the US Treasury market. (2024). Sarno, Lucio ; Li, Junye ; Zinna, Gabriele. In: Journal of Economic Dynamics and Control. RePEc:eee:dyncon:v:158:y:2024:i:c:s016518892300194x.

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2024Markovian analysis of U.S. Treasury volatility: Asymmetric responses to macroeconomic announcements. (2024). Pasini, Simona ; Guarniero, Pieralberto ; Gigante, Gimede. In: Economics Letters. RePEc:eee:ecolet:v:239:y:2024:i:c:s0165176524002064.

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2025Targeted monetary policy and household business credit access: Based on the credit asset pledge relending policy. (2025). Lin, Min ; Sun, Yanmei ; Zhang, Mingxin ; Wu, Weixing. In: Emerging Markets Review. RePEc:eee:ememar:v:66:y:2025:i:c:s1566014125000378.

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2024The role of intermediaries in derivatives markets: Evidence from VIX options. (2024). Jacobs, Kris ; Mai, Anh Thu. In: Journal of Empirical Finance. RePEc:eee:empfin:v:77:y:2024:i:c:s0927539824000276.

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2025CDS and credit: The effect of the bangs on credit insurance, lending and hedging. (2025). Ongena, Steven ; Tmer-Alkan, Gnseli ; Gndz, Yalin ; Yu, Yuejuan. In: Journal of Empirical Finance. RePEc:eee:empfin:v:81:y:2025:i:c:s0927539825000052.

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2025Investors opinion divergence, uncertainty resolution and market reactions to earnings news: Evidence from social media. (2025). Chen, Conghui ; Liu, Lanlan ; Zhao, Ningru. In: International Review of Financial Analysis. RePEc:eee:finana:v:104:y:2025:i:pa:s1057521925003643.

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2024Stock liquidity effect on leverage: The role of debt security, financial constraint, and risk around the global financial crisis and Covid-19 pandemic. (2024). Zhao, Ruoyun ; Armanious, Amir. In: International Review of Financial Analysis. RePEc:eee:finana:v:92:y:2024:i:c:s1057521924000255.

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2024Options illiquidity in an over-the-counter market. (2024). Ahn, Jungkyu. In: International Review of Financial Analysis. RePEc:eee:finana:v:94:y:2024:i:c:s1057521924002357.

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2024How do the gold intra-day returns and volatility react to monetary policy shocks?. (2024). Hussain, Syed Mujahid ; Virk, Nader ; Awartani, Basel. In: International Review of Financial Analysis. RePEc:eee:finana:v:95:y:2024:i:pb:s1057521924004186.

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2024Volatility feedback and dealership position: Evidence from the CDS Index, Corporate Bonds, and Government Bonds. (2024). Chen, Steven Shu-Hsiu. In: Finance Research Letters. RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324012054.

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2025Coarse pricing in QE auctions. (2025). Tsujimoto, Yusuke. In: Journal of Financial Markets. RePEc:eee:finmar:v:73:y:2025:i:c:s1386418124000776.

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2024How does the repo market behave under stress? Evidence from the COVID-19 crisis. (2024). Maria, Luitgard Anna ; Lepore, Caterina ; Huser, Anne-Caroline. In: Journal of Financial Stability. RePEc:eee:finsta:v:70:y:2024:i:c:s1572308923000931.

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2024Assessing the systemic risk impact of bank bail-ins. (2024). Trappl, Stefan ; Spitzer, Ralph ; Hafner-Guth, Martin ; Siebenbrunner, Christoph. In: Journal of Financial Stability. RePEc:eee:finsta:v:71:y:2024:i:c:s1572308924000147.

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2025Asset class liquidity risk indicators. Timing the risk in the European and US equity and bond markets. (2025). Urga, Giovanni ; Varaldo, Alessandro ; Coppola, Anna. In: Journal of Financial Stability. RePEc:eee:finsta:v:76:y:2025:i:c:s1572308924001542.

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2025Stress testing OTC derivatives: Clearing reforms and market frictions. (2025). Casu, Barbara ; Katsoulis, Petros ; Kalotychou, Elena. In: Journal of Financial Stability. RePEc:eee:finsta:v:77:y:2025:i:c:s1572308925000178.

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2024Information content of the limit order book: A cross-sectional analysis in Borsa Istanbul. (2024). Karahan, Cenk C ; Alayan-Gm, Aye. In: Global Finance Journal. RePEc:eee:glofin:v:62:y:2024:i:c:s1044028324000929.

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2024Dollar and government bond liquidity: Evidence from Korea. (2024). Lee, Ji Eun. In: Journal of International Economics. RePEc:eee:inecon:v:152:y:2024:i:c:s0022199624001193.

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2024Trading ahead of treasury auctions. (2024). Sigaux, Jean-David. In: Journal of Banking & Finance. RePEc:eee:jbfina:v:158:y:2024:i:c:s0378426623002236.

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2024Central bank liquidity facilities and market making. (2024). Cimon, David ; Walton, Adrian. In: Journal of Banking & Finance. RePEc:eee:jbfina:v:162:y:2024:i:c:s0378426624000724.

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2024Treasury buybacks, the Federal Reserve’s portfolio, and changes in local supply. (2024). Struby, Ethan ; Connolly, Michael F. In: Journal of Banking & Finance. RePEc:eee:jbfina:v:168:y:2024:i:c:s0378426624002000.

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2025Is bitcoin an inflation hedge?. (2025). Colombo, Jéfferson ; Rodriguez, Harold. In: Journal of Economics and Business. RePEc:eee:jebusi:v:133:y:2025:i:c:s0148619524000602.

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2024Inventory, market making, and liquidity in OTC markets. (2024). Kargar, Mahyar ; Cohen, Assa ; Weill, Pierre-Olivier ; Lester, Benjamin. In: Journal of Economic Theory. RePEc:eee:jetheo:v:222:y:2024:i:c:s0022053124001236.

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2025Constrained liquidity provision in currency markets. (2025). Schrimpf, Andreas ; Ranaldo, Angelo ; Somogyi, Fabricius ; Huang, Wenqian. In: Journal of Financial Economics. RePEc:eee:jfinec:v:167:y:2025:i:c:s0304405x25000364.

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2024Central bank asset purchases and lending: Impact on search frictions. (2024). Tobe, Reiko ; Uno, Jun. In: Journal of Financial Intermediation. RePEc:eee:jfinin:v:58:y:2024:i:c:s1042957324000032.

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2024Autopsy of a futures market failure: Japan’s Dojima rice futures in the early 21st century. (2024). Yamamoto, Shuhei ; Janzen, Joseph P ; Serra, Teresa. In: Food Policy. RePEc:eee:jfpoli:v:128:y:2024:i:c:s0306919224001283.

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2025Understanding the use of unconventional monetary policy for portfolio decarbonisation in Europe. (2025). Corbet, Shaen ; Muiz, Jos Antonio ; Larkin, Charles. In: Journal of International Money and Finance. RePEc:eee:jimfin:v:150:y:2025:i:c:s0261560624002183.

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2025The market stabilization role of central bank asset purchases: High-frequency evidence from the COVID-19 crisis. (2025). Bernardini, Marco ; de Nicola, Annalisa. In: Journal of International Money and Finance. RePEc:eee:jimfin:v:152:y:2025:i:c:s0261560624002444.

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2025High-frequency liquidity in the Chinese stock market: Measurements, patterns, and determinants. (2025). Zhang, Ruixun ; Dai, Yuehao ; Zhao, Chaoyi ; Wu, Lan ; Chen, Ermo. In: Pacific-Basin Finance Journal. RePEc:eee:pacfin:v:90:y:2025:i:c:s0927538x25000186.

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2025The effect of regulatory requirements on market liquidity: ESG promotion as a special case. (2025). Csóka, Péter ; Cska, Pter ; Hevr, Judit. In: International Review of Economics & Finance. RePEc:eee:reveco:v:100:y:2025:i:c:s1059056025002412.

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2024Unbundling quantitative easing: taking a cue from treasury auctions. (2024). Gorodnichenko, Yuriy ; Droste, Michael ; Ray, Walker. In: LSE Research Online Documents on Economics. RePEc:ehl:lserod:120833.

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2025Has the Market’s Perception of the FOMC’s Reaction Function Changed since the Onset of the COVID-19 Pandemic?. (2025). Jia, Chengcheng ; Cline, Alexander. In: Economic Commentary. RePEc:fip:fedcec:102036.

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2025Monetary policy and the corporate bond market: How important is the Fed information effect?. (2021). Suarez, Gustavo ; Smolyansky, Michael. In: Finance and Economics Discussion Series. RePEc:fip:fedgfe:2021-10.

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2025The Relationship between Market Depth and Liquidity Fragility in the Treasury Market. (2025). Meldrum, Andrew ; Sokolinskiy, Oleg. In: Finance and Economics Discussion Series. RePEc:fip:fedgfe:2025-14.

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2025Risk-averse Dealers in a Risk-free Market - The Role of Trading Desk Risk Limits. (2025). LI, DAN ; Tian, Mary ; Petrasek, Lubomir. In: Finance and Economics Discussion Series. RePEc:fip:fedgfe:2025-34.

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2025Market Liquidity in Treasury Futures Market During March 2020. (2025). Vega, Clara ; Tuzun, Tugkan ; Mixon, Scott ; Gousgounis, Eleni. In: Finance and Economics Discussion Series. RePEc:fip:fedgfe:2025-38.

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2025Fed Repo Operations and Dealer Intermediation. (2025). Carlson, Mark ; Saravay, Zack ; Tian, Mary. In: Finance and Economics Discussion Series. RePEc:fip:fedgfe:2025-52.

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2025The Dynamics of Long-Run Inflation Expectations: A Market-Based Perspective. (2025). Kozlowski, Julian ; Cole, Anna ; Martorana, Joseph. In: Review. RePEc:fip:fedlrv:101761.

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2025The Dynamics of Long-Run Inflation Expectations: A Market-Based Perspective. (2025). Kozlowski, Julian ; Cole, Anna ; Martorana, Joseph. In: Working Papers. RePEc:fip:fedlwp:101179.

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2025What is the Impact of a Major Unconventional Monetary Policy Intervention?. (2025). Sapriza, Horacio ; Marques-Ibanez, David ; Claessens, Stijn ; Cuadra, Gabriel ; Alcaraz, Carlo. In: Working Paper. RePEc:fip:fedrwp:101854.

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2024Examining U.S. Millennial Retirement Plan Participation Decisions: The Roles of Employer Contributions and Automatic Enrollment. (2024). Liu, YI ; Korankye, Thomas ; Pearson, Blain. In: JRFM. RePEc:gam:jjrfmx:v:17:y:2024:i:2:p:52-:d:1329490.

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2025Bank Capital Structure, Valuation Adjustments and Financial Market Liquidity. (2025). Mei, Shengfeng ; Cerrato, Mario. In: Working Papers. RePEc:gla:glaewp:2025_07.

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2025Liquidity Swaps between Central Banks, the IMF, and the Evolution of the International Financial Architecture. (2019). Bourgeon, Pauline ; Sgard, Jerome. In: Post-Print. RePEc:hal:journl:hal-04081559.

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2024MODELING AND ANALYSIS OF YIELD CURVE AND EXCHANGE RATE FORMATION IN PRO-MARKET MONETARY OPERATIONS. (2024). Mustika, Kusfisiami Wima ; Fista, Geyana Ledy ; Harun, Cicilia Anggadewi ; Sasongko, Aryo ; Safitri, Dila ; Kurniati, Puput ; Larasati, Karanissa ; Dinianyadharani, Aninditha Kemala. In: Working Papers. RePEc:idn:wpaper:wp092024.

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2024High-Frequency Trading in Bond Returns: A Comparison Across Alternative Methods and Fixed-Income Markets. (2024). Fernndez-Gmez, Manuel A ; Salas, Mara Beln ; Alaminos, David. In: Computational Economics. RePEc:kap:compec:v:64:y:2024:i:4:d:10.1007_s10614-023-10502-3.

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2025Nonlinear structural estimation of corporate bond liquidity. (2025). Zhou, Xinyue ; Gonzalez, Diego Leal ; Stanhouse, Bryan ; Stock, Duane. In: Review of Quantitative Finance and Accounting. RePEc:kap:rqfnac:v:64:y:2025:i:2:d:10.1007_s11156-024-01323-y.

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2024Credit Freezes, Equilibrium Multiplicity, and Optimal Bailouts in Financial Networks. (2024). Jackson, Matthew ; Pernoud, Agathe. In: The Review of Financial Studies. RePEc:oup:rfinst:v:37:y:2024:i:7:p:2017-2062..

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2024Size Discount and Size Penalty: Trading Costs in Bond Markets. (2024). Pinter, Gabor ; Zou, Junyuan ; Wang, Chaojun. In: The Review of Financial Studies. RePEc:oup:rfinst:v:37:y:2024:i:7:p:2156-2190..

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2024Global Liquidity: Drivers, Volatility and Toolkits. (2024). Goldberg, Linda. In: IMF Economic Review. RePEc:pal:imfecr:v:72:y:2024:i:1:d:10.1057_s41308-023-00208-9.

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2024Is bitcoin an inflation hedge?. (2024). Colombo, Jéfferson ; Rodriguez, Harold. In: MPRA Paper. RePEc:pra:mprapa:120477.

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2025Back to the Futures: Liquidity in Australian Bond Futures amid Market-moving Events since COVID-19. (2025). Titkov, Dmitry ; Finlay, Richard ; Jackman, Ben. In: RBA Research Discussion Papers. RePEc:rba:rbardp:rdp2025-07.

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2024On-the-run Premia, Settlement Fails, and Central Bank Access. (2024). Schneider, Fabienne. In: Working Papers. RePEc:szg:worpap:2405.

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2024Liquidity in the euro-area sovereign bond market during the “dash for cash” driven by the COVID-19 crisis. (2024). Papavassiliou, Vassilios ; Xiab, Fan Dora ; Papavassilioua, Vassilios G. In: Working Papers. RePEc:ucd:wpaper:202406.

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2025Is liquidity provision informative? Evidence from agricultural futures markets. (2025). Ma, Richie R ; Serra, Teresa. In: American Journal of Agricultural Economics. RePEc:wly:ajagec:v:107:y:2025:i:1:p:125-151.

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2025Is illiquidity priced in an international factor pricing model? A dynamic panel data application with robust IV. (2025). Racicot, Franoiseric ; Rentz, William F ; Thoret, Raymond. In: International Journal of Finance & Economics. RePEc:wly:ijfiec:v:30:y:2025:i:1:p:282-314.

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2024Liquidity forecasting at corporate and subsidiary levels using machine learning. (2024). Sauer, Stephan ; Choubey, Bhasker ; Singh, Vinay. In: Intelligent Systems in Accounting, Finance and Management. RePEc:wly:isacfm:v:31:y:2024:i:3:n:e1565.

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2025Real‐Time Tracking of Public Announcements in the Limit Order Book. (2025). Daniels, Justin ; Frank, Julieta ; Arzandeh, Mehdi. In: Journal of Futures Markets. RePEc:wly:jfutmk:v:45:y:2025:i:6:p:569-599.

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Works by Michael J. Fleming:


YearTitleTypeCited
2010Repo Market Effects of the Term Securities Lending Facility In: American Economic Review.
[Full Text][Citation analysis]
article70
2010Repo market effects of the Term Securities Lending Facility.(2010) In: Staff Reports.
[Full Text][Citation analysis]
This paper has nother version. Agregated cites: 70
paper
2012Federal Reserve Liquidity Provision during the Financial Crisis of 2007–2009 In: Annual Review of Financial Economics.
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article41
2012Federal Reserve liquidity provision during the financial crisis of 2007-2009.(2012) In: Staff Reports.
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