Liquidity Black Holes
- Topics:
- Investment and Capital Markets
- Tags:
- Finance,
- Investment,
- Liquidity,
- State Street
- Source:
- State Street
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Overview: This paper concerns with the grand subjects of monetary policy although not directly or the flow of private savings, but with liquidity conditions for trading in the capital markets. Liquidity is under-researched because it is hard to measure the price impact of trading without detailed information on who sold what, when, and at which price. Consequently, most measures of liquidity in the securities markets focus on the size of the bid-ask spreads quoted by market-makers on electronic brokerage systems, and in the loan markets on the amount of new loans that are issued.
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Format: PDF | Size: 190KB | Date: Dec 2001 | Pages: 20



