Plausibly Exogenous [1197] - Surprise Flows (05/13/2023)
LHS Variable
Prices
RHS Variable
Fire sales
Source of Exogenous Variation
Surprise mutual fund flows that stem from retail investors trading in response to random liquidity shocks
- Schmickler (2020), “Identifying the Price Impact of Fire Sales Using High-Frequency Surprise Mutual Fund Flows”