Persaud-Liquidity Black Holes

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Persaud-Liquidity Black HolesPersaud-Liquidity Black Holes

What is liquidity and why does it matter?
•Speed, ease and cost of transacting
•Recordedspreads are a poor measure
•Poor liquidity is associated with volatility
Liquidity needs diversity
•There is less diversity because
–Information costs have fallen
–Less diversity within and between firms
–Switch to market-sensitive risk management systems

 

  • pic1 عنوان مقاله : Persaud-Liquidity Black Holes
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