This paper shows that liquidity regulation can trigger unintended credit booms in the presence of interbank market power. We consider a price setter and continuum takers who trade reserves after realization idiosyncratic shocks. The are endogenously less liquid circumvent by engaging shadow banking, which leads to reallocation funding away from more setter. channel underlies boom. Endogenous re...

Abstract We develop a new theory of information production during credit booms. Entrepreneurs need to undertake investment projects, some which enable them divert resources. Lenders can protect themselves from such diversion in two ways: collateralization, and costly screening that generates durable about projects. In equilibrium, the collateralization-screening mix depends on value aggregate c...

The pressure signals from a sonic boom will produce a small, but detectable, ground motion. The extensive seismic network in southern California, consisting of over 200 sites covering over 50000 square kilometers, is used to map primary and secondary sonic boom carpets. Data from the network is used to analyze three supersonic overflights in the western United States. The results are compared t...

A magnetometer-based filter and smoother are presented for estimating attitude, rate, and boom orientations for a spinning spacecraft that has wire booms. These estimates are needed to analyze science data from the subpayloads of a recent sounding rocket mission. The estimator is initialized with the measured angular rate of each subpayload at ejection and thereafter relies solely on three-axis...

Increasing oil transportation and severe oil accidents in the past have led to the development of various sensitivity maps in different countries all over the world. Often, however, the areas presented on the maps are far too large to be safeguarded with the available oil combating equipment and prioritization is required to decide which areas must be safeguarded. While oil booms can be applied...