Liquidity and Market Incompleteness

Felipe Zurita

No 318, Documentos de Trabajo from Instituto de Economia. Pontificia Universidad Católica de Chile.

Abstract: This note shows that according to Lipmann and McCall's (1986) operational definition of liquidity, incomplete markets are a necessary condition for illiquidity.

Keywords: Liquidity; insurance (search for similar items in EconPapers)
JEL-codes: D83 G10 G22 (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-ias
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Related works:
Journal Article: Liquidity and market incompleteness (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ioe:doctra:318

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