Corporate Bond Liquidity During the Covid-19 Crisis

84 Pages Posted: 12 Sep 2020 Last revised: 22 Sep 2021

See all articles by Mahyar Kargar

Mahyar Kargar

Gies College of Business, University of Illinois at Urbana-Champaign

Benjamin R. Lester

Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Daivd Lindsay

University of California, Los Angeles (UCLA) - Department of Economics

Shuo Liu

Tsinghua University - School of Economics & Management

Pierre-Olivier Weill

University of California, Los Angeles; National Bureau of Economic Research (NBER)

Diego Zúñiga

affiliation not provided to SSRN

Multiple version iconThere are 2 versions of this paper

Date Written: August 2020

Abstract

quickly subsided after the Fed announced its interventions. Dealers' marginal cost also increased substantially, but did not fully subside.

Keywords: corporate bonds, COVID-19, intermediation, liquidity, SMCCF

JEL Classification: G12, G14, G21

Suggested Citation

Kargar, Mahyar and Lester, Benjamin R. and Lindsay, Daivd and Liu, Shuo and Weill, Pierre-Olivier and Zúñiga, Diego, Corporate Bond Liquidity During the Covid-19 Crisis (August 2020). CEPR Discussion Paper No. DP15231, Available at SSRN: https://ssrn.com/abstract=3688185

Mahyar Kargar (Contact Author)

Gies College of Business, University of Illinois at Urbana-Champaign ( email )

Champaign, IL 61820
United States

HOME PAGE: http://mahyarkargar.com

Benjamin R. Lester

Federal Reserve Banks - Federal Reserve Bank of Philadelphia ( email )

Ten Independence Mall
Philadelphia, PA 19106-1574
United States

HOME PAGE: http://sites.google.com/site/benjaminrlester

Daivd Lindsay

University of California, Los Angeles (UCLA) - Department of Economics ( email )

8283 Bunche Hall
Los Angeles, CA 90095-1477
United States

Shuo Liu

Tsinghua University - School of Economics & Management ( email )

Beijing, 100084
China

Pierre-Olivier Weill

University of California, Los Angeles ( email )

Box 951477
Los Angeles, CA 90095-1477
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Diego Zúñiga

affiliation not provided to SSRN

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