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Bridge over ocean
1 June 2012 Research Foundation

The New Field of Liquidity and Financial Frictions

  1. David Adler

Illiquidity and other financial frictions are critical to financial markets and the overall economy. This literature review provides a synopsis of academic research in this rapidly developing specialty field.

The New Field of Liquidity and Financial Frictions View the full book (PDF)

Illiquidity and other financial frictions are critical to financial markets and the overall economy. This literature review provides a synopsis of academic research in this rapidly developing specialty field, offering insights into liquidity and asset pricing, systemic risk, macro frictions, and new models of the causes of a liquidity crisis.