The Role of Financial Markets and Liquidity

Paul Davidson

Chapter Chapter 7 in Who's Afraid of John Maynard Keynes?, 2017, pp 81-96 from Springer

Abstract: Abstract The global financial crisis involved the collapse of certain financial markets. A well organized and orderly financial market is a necessary condition to assure relatively stable financial markets. Orderliness in a financial market requires a “market maker” to maintain orderliness in market price movements. This chapter explains how a market maker can maintain orderliness The Securities Exchange Commission has a role in assuring the public if a financial market is orderly. The Federal Reserve’s emergency Quantitative Easing [QE] policy in 2008 was a policy making the Federal Reserve the market maker of last resort to prevent further collapse in financial markets.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-64504-9_7

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DOI: 10.1007/978-3-319-64504-9_7

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