Download or read book Liquidity and Crises written by Franklin Allen and published by OUP USA. This book was released on 2011-01-13 with total page 718 pages. Available in PDF, EPUB and Kindle. Book excerpt: One important cause of the 2007-2009 crisis was illiquidity combined with exposure of many financial institutions to liquidity needs. But what is liquidity and why is it so important for financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field.