DUTTA, Jayasri; KAPUR, Sandeep - Center for Operations Research and Econometrics (CORE), … - 1993
This paper examines the errect of liquidity prden'nce on investment, output, and prices in competitive markets, with … allernative struclures of financial intermediation. The need for liquidity is due to uncertainty in the preferences of individuals … policy interventions differ across asset structures. We also examine the aggregate provision for liquidity, as well as …