||1 of 1 people found the following review helpful.| Betwixt|By Vodil|I took economics as an undergraduate, but the details were quite a slog for me. So this is not for the faint of heart. The equations in the Kindle version are almost unreadable, but in most cases they are not really necessary. Nevertheless I found the core concepts and implications very interesting and helpful. Most people may want to wait for t|||In this excellent book, Holmstrom and Tirole put together a unified theory of liquidity, with applications ranging from the impact of liquidity on asset prices to the liquidity enhancing role of government debt, and the importance of international liquidity.
Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists ... [PDF.pz84] Inside and Outside Liquidity (MIT Press) Rating: 3.92 (627 Votes)
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You can specify the type of files you want, for your gadget.Inside and Outside Liquidity (MIT Press) | Bengt Holmström. Which are the reasons I like to read books. Great story by a great author.
