Or Shachar

Federal Reserve Bank of New York

Economist

33 Liberty Street

New York, NY 10045

United States

SCHOLARLY PAPERS

18

DOWNLOADS
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Top 22,959

in Total Papers Downloads

2,723

SSRN CITATIONS
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Top 4,219

in Total Papers Citations

142

CROSSREF CITATIONS

182

Scholarly Papers (18)

Did Liquidity Providers Become Liquidity Seekers? Evidence from the CDS-Bond Basis during the 2008 Financial Crisis

FRB of New York Staff Report No. 650
Number of pages: 49 Posted: 24 Oct 2013 Last Revised: 23 Dec 2014
Jaewon Choi and Or Shachar
University of Illinois at Urbana-Champaign - Department of Finance and Federal Reserve Bank of New York
Downloads 399 (91,424)
Citation 10

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CDS-bond basis, limits to arbitrage, Volcker rule, credit default swaps, liquidity, corporate bonds

Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis

Number of pages: 55 Posted: 18 Mar 2016 Last Revised: 27 Jan 2018
University of Illinois at Urbana-Champaign - Department of Finance, Federal Reserve Bank of New York and Aalto University - Department of Finance
Downloads 150 (242,461)
Citation 9

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2.

Why Do Closed-End Bond Funds Exist? An Additional Explanation for the Growth in Domestic Closed-End Bond Funds

Number of pages: 49 Posted: 16 Apr 2010 Last Revised: 12 Jul 2010
New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance, Fordham University - Gabelli School of Business and Federal Reserve Bank of New York
Downloads 364 (102,487)
Citation 14

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performance, closed-end bond funds, discounts, leverage

3.
Downloads 339 (110,988)
Citation 30

Market Liquidity after the Financial Crisis

FRB of NY Staff Report No. 796
Number of pages: 47 Posted: 20 Oct 2016 Last Revised: 21 Sep 2017
International Monetary Fund, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Citadel LLC
Downloads 339 (110,247)

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liquidity, market making, Treasury market, corporate bonds, regulation

Market Liquidity after the Financial Crisis

CEPR Discussion Paper No. DP12248
Number of pages: 49 Posted: 29 Aug 2017
International Monetary Fund, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Citadel LLC
Downloads 0
Citation 18
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corporate bonds, liquidity, market making, regulation, Treasury securities

Market Liquidity after the Financial Crisis

Annual Review of Financial Economics, Vol. 9, pp. 43-83, 2017
Posted: 03 Jan 2018
International Monetary Fund, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Citadel LLC

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4.

Bank Liquidity Creation, Systemic Risk, and Basel Liquidity Regulations

FRB of New York Staff Report No. 852
Number of pages: 57 Posted: 20 Jun 2018 Last Revised: 06 Sep 2019
Daniel Roberts, Asani Sarkar and Or Shachar
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 277 (137,657)
Citation 12

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Liquidity Coverage Ratio, banks, liquidity creation, lending, systemic risk

5.

Measuring Corporate Bond Market Dislocations

FRB of New York Staff Report No. 957, Rev. July 2021
Number of pages: 72 Posted: 20 Jan 2021 Last Revised: 01 Jul 2021
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 178 (209,292)

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corporate bond market conditions, corporate bond spreads, corporate bond issuance, corporate bond liquidity

The Long and Short of It: The Post-Crisis Corporate CDS Market

FRB of New York Staff Report No. 879
Number of pages: 76 Posted: 15 Feb 2019 Last Revised: 06 Aug 2019
Federal Reserve Bank of New York, University of Michigan, Stephen M. Ross School of Business and Federal Reserve Bank of New York
Downloads 124 (281,550)
Citation 1

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CDS positions, CDS transactions, dealer market power

The Long and Short of It: The Post-Crisis Corporate CDS Market

Economic Policy Review, Vol. 26, No. 3
Number of pages: 49 Posted: 30 Jun 2020
Federal Reserve Bank of New York, University of Michigan, Stephen M. Ross School of Business and Federal Reserve Bank of New York
Downloads 33 (567,056)
Citation 4

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CDS positions, CDS transactions, dealer market power, credit default swaps, credit derivatives

The Long and Short of it: The Post-Crisis Corporate CDS Market

CEPR Discussion Paper No. DP13535
Number of pages: 67 Posted: 19 Feb 2019 Last Revised: 25 Feb 2019
Federal Reserve Bank of New York, University of Michigan, Stephen M. Ross School of Business and Federal Reserve Bank of New York
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CDS positions, CDS transactions, dealer market power

7.

Credit Market Choice

FRB of New York Staff Report No. 863
Number of pages: 66 Posted: 07 Aug 2018
Federal Reserve Bank of New York, University of Michigan, Stephen M. Ross School of Business and Federal Reserve Bank of New York
Downloads 145 (248,635)
Citation 4

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CDS, corporate bonds, hedging, regulation, CCPs

8.
Downloads 143 (251,411)
Citation 21

Bank-Intermediated Arbitrage

FRB of New York Staff Report No. 858
Number of pages: 75 Posted: 20 Jun 2018 Last Revised: 29 Jul 2020
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 142 (253,629)
Citation 22

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cost of capital, beta, bank regulation, Dodd-Frank act, banks

Bank-Intermediated Arbitrage

CEPR Discussion Paper No. DP15097
Number of pages: 77 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 1 (822,731)
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9.

Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis

Management Science, Forthcoming
Number of pages: 55 Posted: 16 Jan 2018
University of Illinois at Urbana-Champaign - Department of Finance, Federal Reserve Bank of New York and Aalto University - Department of Finance
Downloads 116 (294,084)
Citation 11

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10.
Downloads 112 (301,472)
Citation 54

Dealer Balance Sheets and Bond Liquidity Provision

FRB of NY Staff Report No. 803
Number of pages: 46 Posted: 30 Dec 2016 Last Revised: 06 Sep 2017
International Monetary Fund, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 112 (303,081)
Citation 23

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bond liquidity, regulation, dealer constraints

Dealer Balance Sheets and Bond Liquidity Provision

CEPR Discussion Paper No. DP12246
Number of pages: 48 Posted: 29 Aug 2017
International Monetary Fund, Federal Reserve Bank of New York and Federal Reserve Bank of New York
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11.

Alternative Trading Systems in the Corporate Bond Market

FRB of New York Staff Report No. 938
Number of pages: 34 Posted: 06 Aug 2020
Financial Industry Regulatory Authority (FINRA), Rutgers University, Department of Economics, Financial Industry Regulatory Authority (FINRA), Federal Reserve Bank of New York and FINRA
Downloads 88 (353,116)

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corporate bonds, TRACE, electronic trading

12.

The Option Value of Municipal Liquidity: Evidence from Federal Lending Cutoffs during COVID-19

Number of pages: 69 Posted: 16 Feb 2021 Last Revised: 28 Jul 2021
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 77 (382,217)
Citation 2

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Municipal Liquidity, Municipal Bond Markets, State and Local Government, Local Public Finance, Macroeconomic Stabilization

13.

It’s What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

FRB of New York Staff Report No. 935
Number of pages: 88 Posted: 21 Jul 2020 Last Revised: 10 Nov 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 73 (393,842)
Citation 29

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corporate credit facilities, bond liquidity, credit spreads, purchase effects

14.

Flighty Liquidity

FRB of New York Staff Report No. 870
Number of pages: 57 Posted: 23 Oct 2018 Last Revised: 17 Mar 2019
Federal Reserve Bank of New York, Centre for Economic Policy Research (CEPR) and Federal Reserve Bank of New York
Downloads 55 (454,608)

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corporate bond liquidity, liquidity uncertainty, quantile regressions

15.

It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

CESifo Working Paper No. 8679
Number of pages: 89 Posted: 11 Nov 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 49 (478,014)

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corporate credit facilities, bond liquidity, credit spreads, purchase effects

16.

It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

CEPR Discussion Paper No. DP15432
Number of pages: 90 Posted: 02 Dec 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 1 (786,430)
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17.

Breaking Down Trace Volumes Further

FEDS Notes No. 2018-11-29
Posted: 06 Dec 2018 Last Revised: 25 Jun 2020
Nassau Community College, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, affiliation not provided to SSRN, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Federal Reserve Bank of New York

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18.

Unlocking the Treasury Market Through Trace

FEDS Notes No. 2018-09-28-1
Posted: 05 Oct 2018 Last Revised: 02 Oct 2020
Nassau Community College, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System, Columbia University, Board of Governors of the Federal Reserve System and Federal Reserve Bank of New York

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