HolmstrOm, Bengt

Inside and Outside Liquidity

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ISBN 13:
9780262518536
author:
HolmstrOm, Bengt
format:
Paperback
publisher:
MIT Press
language:
English
Publication Year:
2013
Pages:
264
Dimensions:
15.2 x 1.2 x 22.9 cm
Genre:
Business, Finance & Law, Economics, ,
Condition:
New
Availability:
Item usually sent within 5 working days
£36.25

Description

Inside and Outside Liquidity by Bengt Holmstrom and Jean Tirole offers a unified perspective on the demand for and supply of liquid assets. This theory explains why financial institutions, industrial companies, and households hold low-yielding money balances and other liquid assets. The authors show how imperfect pledgeability of corporate income leads to both a demand for and a shortage of liquidity, with significant implications for asset pricing, investment decisions, and liquidity management. The government's role in improving risk-sharing between consumers and firms is also explored. This book provides an original analysis of the factors that contribute to financial crises, including the current global market conditions.

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