borrowers - from corporations to sovereigns - these agencies add liquidity to markets that would otherwise be illiquid, promote … rating methodology and assess the ratings of these agencies in regards to Greece, France, and the USA. …

This paper contends that abundant liquidity in the economy might be an important determinant of market inefficiency … excess liquidity is a cause of market inefficiency, the latter is expected to come out essentially in restrictive monetary … environments. Consistent with this intuition, empirical tests here highlight that expected stock returns in the USA are driven by …

that liquidity would play a prime role in pricing retail CDs. …

that liquidity would play a prime role in pricing retail CDs. …

This paper proposes a dynamic multi-security model in which liquidity reflects stochastic variation, persistence, and … controlling for microstructure noise. I find that a Dow stock's liquidity decreases in the size of information about not only … itself but also about other Dow stocks, demonstrating a significant cross-sectional effect of information on liquidity. …

explanation for large price changes. Instead, we find that a low density of limit orders in the order book, i.e. a small liquidity … liquidity, large stock price fluctuations can be explained quantitatively. …

We study the liquidity, defined as the size of the trading volume, in a situation where an infinite number of agents …

We study the liquidity, de ned as the size of the trading volume, in a situation where an in nite number of agents with …

market capitalization and are free of information effects. Our main results are asymmetric price and liquidity responses … smaller-cap to a larger-cap FTSE index experience a permanent increase in stock price accompanied by improvements in liquidity … accompanied by declines in liquidity. In contrast, firms added to the FTSE SmallCap index that were not previously in FTSE indexes …