Liquidity in the Covid-19 Era
| aut.embargo | No | en_NZ |
| aut.thirdpc.contains | No | en_NZ |
| dc.contributor.advisor | Chen, Jun | |
| dc.contributor.author | Benton, Finlay George | |
| dc.date.accessioned | 2022-12-14T22:07:51Z | |
| dc.date.available | 2022-12-14T22:07:51Z | |
| dc.date.copyright | 2022 | |
| dc.date.issued | 2022 | |
| dc.date.updated | 2022-12-14T07:25:35Z | |
| dc.description.abstract | This paper documents significant empirical evidence surrounding liquidity in the new and compelling data point of the Covid-19 pandemic. Evidence is produced through established methods, providing insights into investor behavioural change around groups of stocks from the S&P500 index, sorted by liquidity sensitivity. Furthermore, the market pricing of liquidity is observed throughout periods surrounding monetary policy announcements by the Federal Open Market Committee, in response to the outbreak. Observations of the existence of a liquidity premium are documented in periods of Quantitative Easing and Quantitative Tightening, as well as during the control period from before the outbreak of Covid-19. However, the liquidity premium is absent during the period of the outbreak and subsequent market crash, adding to evidence of the pertinence of liquidity during times of market downturn. Other evidence suggests the capacity of Quantitative Easing and Quantitative Tightening to influence liquidity through innovations in the degree of pricing. Overall, this paper helps to build the link between aggregate (market) liquidity and stock-level luquidity concerning the S&P500 stocks. | en_NZ |
| dc.identifier.uri | https://hdl.handle.net/10292/15776 | |
| dc.language.iso | en | en_NZ |
| dc.publisher | Auckland University of Technology | |
| dc.rights.accessrights | OpenAccess | |
| dc.title | Liquidity in the Covid-19 Era | en_NZ |
| dc.type | Dissertation | en_NZ |
| thesis.degree.grantor | Auckland University of Technology | |
| thesis.degree.level | Honours | |
| thesis.degree.name | Bachelor of Business (Honours) | en_NZ |