Amihud, Yakov (contributor); Mendelson, Haim (contributor); … - 2013
This book is about the pricing of liquidity. We present theory and evidence on how liquidity affects securities prices …, why liquidity varies over time, how a drop in liquidity leads to a drop in prices, and why liquidity crises create … liquidity spirals. The analysis has implications for traders, risk managers, central bankers, performance evaluation, economic …