00000nam 2200000zi 4500 9.913460 CaOODSP 20230928110412 m o d f cr |n||||||||| 220715t20222022oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP eng fre fre n-cn--- FB3-5/2022-27E-PDF Cui, Wei, author. Endogenous liquidity and capital reallocation / by Wei Cui, Randall Wright and Yu Zhu. [Ottawa] : Bank of Canada = Banque du Canada, 2022. ©2022 1 online resource (ii, 57 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2022-27 "Last updated: June 17, 2022." Includes bibliographical references (pages 43-48). "We study economies where firms acquire capital in primary markets then retrade it in secondary markets after information on idiosyncratic productivity arrives. Our secondary markets incorporate bilateral trade with search, bargaining and liquidity frictions. We distinguish between full and partial sales (one firm gets all or some of the other’s capital). Both exhibit interesting long- and short-run patterns in data that the model can match. Depending on monetary and credit conditions, more partial sales occur when liquidity is tight. Quantitatively, we find significant steady-state and business-cycle implications. We also investigate the impact of search, taxation and persistence in firm-specific shocks"--Abstract. Includes abstracts in English and French. Monetary policy. Business cycles Mathematical models. Politique monétaire. Cycles économiques Modèles mathématiques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2022-27. (CaOODSP)9.806221 PDF 1.66 MB https://publications.gc.ca/collections/collection_2022/banque-bank-canada/FB3-5-2022-27-eng.pdf