000	02213cam  2200385zi 4500
001	9.913460
003	CaOODSP
005	20221107182809
006	m     o  d f
007	cr |n|||||||||
008	220715t20222022oncd    ob   f|0| 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
041	|aeng|bfre|bfre
043	|an-cn---
086	1 |aFB3-5/2022-27E-PDF
100	1 |aCui, Wei, |eauthor.
245	10|aEndogenous liquidity and capital reallocation / |cby Wei Cui, Randall Wright and Yu Zhu.
264	1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2022.
264	4|c©2022
300	|a1 online resource (ii, 57 pages) : |bcharts.
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2022-27
500	|a"Last updated: June 17, 2022."
504	|aIncludes bibliographical references (pages 43-48).
520	|a"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.
546	|aIncludes abstracts in English and French.
650	0|aMonetary policy.
650	0|aBusiness cycles|xMathematical models.
650	6|aPolitique monétaire.
650	6|aCycles économiques|xModèles mathématiques.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff working paper (Bank of Canada)|v2022-27.|w(CaOODSP)9.806221
856	40|qPDF|s1.66 MB|uhttps://publications.gc.ca/collections/collection_2022/banque-bank-canada/FB3-5-2022-27-eng.pdf