Best Seller Stock Market Liquidity and the Macroeconomy: Evidence from Japan
Stock Market Liquidity and the Macroeconomy: Evidence from Japan High quality books Stock Market Liquidity and the Macroeconomy: Evidence from Japan By:Woon Gyu Choi,David Cook Published on 2005-01-01 by International Monetary Fund In a liquid financial market, investors are able to sell large blocks of assets without substantially changing the price. We document a steep drop in the liquidity of the Japanese stock market in the post-bubble period and a steep rise in liquidity risk. We find that, during Japan's deflationary period, firms with more liquid balance sheets were less exposed to stock market liquidity risk, while slowly growing firms were highly exposed to liquidity shocks. Also, aggregate liquidity had macroeconomic effects on aggregate demand through its effect on money demand. This Book was ranked at 14 by Google Books for keyword Monetary base. Book ID of Stock Market Liquidity and the Macroeconomy: Evidence from Japan's Books is Wl4b8BVI5SoC, Book which was wri...