Liquidity dynamics between virtual and equity markets

Autor:	Huang, Sherena S.
Jazyk:	angličtina
Rok vydání:	2024
Předmět:	Crypto asset Cryptocurrency Systemic risk Global market Financial stability Monetary policy
Druh dokumentu:	Článek
DOI:	10.1016/j.intfin.2023.101917
Popis:	Yes This paper estimates liquidity dynamics between virtual and real assets from multiple dimensions, namely market capacity, transaction cost and market efficiency. The data covers transaction information of crypto markets and four equity exchanges (US, UK, EU and Japan) between January 2019 and December 2022. The first result shows a two-way liquidity risk feedback loop between virtual and real markets, and the second result confirms dynamic liquidity interactions between them. The US market is identified as a transmitter rather than a receiver of liquidity risk but may not escape cumulative liquidity shocks.
Databáze:	Networked Digital Library of Theses & Dissertations
Externí odkaz:	http://hdl.handle.net/10454/19767 Zobrazit plný text záznamu