Stock Market Liquidity and the Macroeconomy : Evidence from Japan

Evidence from Japan

Stock Market Liquidity and the Macroeconomy : Evidence from Japan
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... READ MORE...

Publication date: January 2005
ISBN 9781451860252
$15.00

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