Market liquidity : asset pricing, risk, and crises / / [edited by] Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen.
"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 trader...
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| Year of Publication: | 2013 |
| Language: | English |
| Online Access: | |
| Physical Description: | xiv, 277 p. :; ill. |
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| 020 | |z 9780521191760 (hardback) | ||
| 020 | |z 9780521139656 (paperback) | ||
| 020 | |a 9781139553957 (electronic bk.) | ||
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| 050 | 4 | |a HG178 |b .M37 2013 | |
| 082 | 0 | 4 | |a 332.63/222 |2 23 |
| 245 | 0 | 0 | |a Market liquidity |h [electronic resource] : |b asset pricing, risk, and crises / |c [edited by] Yakov Amihud, Haim Mendelson, Lasse Heje Pedersen. |
| 260 | |a Cambridge ; |a New York : |b Cambridge University Press, |c 2013. | ||
| 300 | |a xiv, 277 p. : |b ill. | ||
| 504 | |a Includes bibliographical references and index. | ||
| 505 | 0 | |a pt. 1. the effect of liquidity costs on securities prices and returns -- pt. 2. Liquidity risk -- pt. 3. Liquidity crises. | |
| 520 | |a "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 policy, regulation of financial markets, management of liquidity crises, and academic research. Liquidity and its converse, illiquidity, are elusive concepts: You know it when you see it, but it is hard to define. A liquid security is characterized by the ability to buy or sell large amounts of it at low cost. A good example is U.S. Treasury Bills, which can be sold in blocks of $20 million dollars instantaneously at the cost of a fraction of a basis point"-- |c Provided by publisher. | ||
| 533 | |a Electronic reproduction. Ann Arbor, MI : ProQuest, 2015. Available via World Wide Web. Access may be limited to ProQuest affiliated libraries. | ||
| 650 | 0 | |a Liquidity (Economics) | |
| 650 | 0 | |a Securities |x Prices. | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Amihud, Yakov, |d 1947- | |
| 700 | 1 | |a Mendelson, Haim. | |
| 700 | 1 | |a Pedersen, Lasse Heje. | |
| 710 | 2 | |a ProQuest (Firm) | |
| 856 | 4 | 0 | |u https://ebookcentral.proquest.com/lib/oeawat/detail.action?docID=989093 |z Click to View |