🚨 New paper🚨
Liquidity crises have become common in the non-bank financial sector. One reason is LASH risk.
With awesome coauthors Laura Alfaro, Saleem Bahaj, Robert Czech and Ioana Neamtu
#econsky
(1/11)
Liquidity crises have become common in the non-bank financial sector. One reason is LASH risk.
With awesome coauthors Laura Alfaro, Saleem Bahaj, Robert Czech and Ioana Neamtu
#econsky
(1/11)
Comments
1) We show that non-banks take on LASH risk to hedge solvency risk. We measure LASH risk for pound sterling interest rate contracts held by UK non-banks, using amazing supervisory data. (6/11)