Professional investors are bombarded on a day to day basis with assertions about the role liquidity is playing and will play in determining prices in the financ

Liquidity and Asset Prices reviews the literature that studies the relationship between liquidity and asset prices. The authors review the theoretical literatur

"The process by which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical

This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.

John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is un