anomalous. The theory also exhibits rational expectations equilibria with recurring belief driven events that resemble liquidity … prices and standard measures of financial liquidity, such as bid-ask spreads, trade volume, and the incentives of dealers to …. The theory predicts that asset prices carry a speculative premium that reflects the asset's marketability and depends on …

assets and, thus, boost their liquidity, or to buy assets and, thus, provide liquidity to other agents. A unique feature of …

Building on recent work in monetary theory and finance, we develop a framework where money serves a double liquidity …

liquidity. Pushing up prices at the traditional venue while selling in the dark pool might generate profits. If future returns … depend on historical dark pool liquidity, then sending orders to the dark pool can be worthwhile simply to gather information …

Assets have "indirect liquidity" if they cannot be used as media of exchange, but can be traded to obtain a medium of … liquidity, provides closed form solutions for real and nominal assets, and discusses properties of the solutions. Some of these … for teaching concepts from monetary theory. …

assets are likely to serve as media of exchange or collateral (a definition of liquidity often employed in monetary theory …), or that they can be easily sold in a secondary market, if needed (a definition of liquidity closer to the one adopted in … finance)? We develop a model where these two notions of asset liquidity coexist, and their relative importance is determined …