Liquidity and Market Crashes
收藏NBER2008-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w14013
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资源简介：
In this paper, we develop an equilibrium model for stock market liquidity and its impact on asset prices when constant market presence is costly. We show that even when agents' trading needs are perfectly matched, costly market presence prevents them from synchronizing their trades and hence gives
提供机构：
美国国家经济研究局
创建时间：
2008-05-01
