Did Dealers Fail to Make Markets during the Pandemic?

Jiakai Chen (), Haoyang Liu (), David Rubio, Asani Sarkar and Zhaogang Song
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Jiakai Chen: http://www.shidler.hawaii.edu/fin/directory/jiakai-chen

No 20210324, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: In March 2020, as the COVID-19 pandemic disrupted a range of financial markets, the ability of dealers to maintain liquid conditions in these markets was questioned. Reflecting these concerns, authorities took numerous steps, including providing regulatory relief to dealers. In this post, we examine liquidity provision by dealers in several financial markets during the pandemic: how much was provided, possible causes of any shortfalls, and the effects of the Federal Reserve’s actions.

Keywords: dealers; liquidity; COVID-19 (search for similar items in EconPapers)
JEL-codes: G1 (search for similar items in EconPapers)
Date: 2021-03-24
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