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Liquidity and Market Incompleteness

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Author Info
Felipe Zurita () (Instituto de Economía. Pontificia Universidad Católica de Chile.)

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Abstract

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

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Publisher Info
Paper provided by Instituto de Economía. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 318.

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Date of creation: 2007
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Handle: RePEc:ioe:doctra:318

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Related research
Keywords: Liquidity; Insurance;

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Find related papers by JEL classification:
G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies

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  1. Lippman, Steven A & McCall, John J, 1986. "An Operational Measure of Liquidity," American Economic Review, American Economic Association, vol. 76(1), pages 43-55, March.
  2. Felipe Zurita, 2001. "Liquidity as an Insurance Problem," Documentos de Trabajo 198, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
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This page was last updated on 2009-12-8.

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