![]() ![]() ![]() ![]() And over time, us tech writers got worn down. After all, we wouldn't want one of our business partners upset over something flippant or glib in the release notes (of all things), would we? Nevertheless, he persisted. So we had to be serious about our release notes as well. We chose to ignore him for a while, because how could we even compare to Medium? Plus we don't make consumer products, we make enterprise tools. A bit more humor and snark, why not? We like to have fun, don't we? We'd collectively roll our eyes whenever he brought it up. ![]() a bit more daring for our tone of language in the release notes. We knew he wanted something a bit more bold. Of course, us tech writers knew what he was getting at. He would share screenshots of Medium's release notes whenever a new app update appeared on the Apple App Store. Well, to make a long story short, our product manager was puke green with envy over Medium's release notes.Drawing on evidence of first-mover advantage within a group of ‘swinging’ corporate bond funds, we provide policy considerations for enhancing the tool’s effectiveness as a systemic risk mitigant. Here we develop and apply a methodology to investigate whether swing pricing does in fact help dampen flows out of funds, especially during periods of market stress. This liquidity management tool, which is already used in major jurisdictions, may also help mitigate systemic risk. Swing pricing allows a fund manager to transfer to redeeming or subscribing investors the costs associated with their trading activity, thus potentially discouraging large flows. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. ![]()
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