and central banks are looking for ways to obtain “liquidity assurance”, i.e., the assurance of having access to … international liquidity if they need it. This article discusses how such assurance might be provided, whether by multilateral means …

We present a model of financial market liquidity provided by financially constrained intermediaries. We show that … market liquidity increases with the level of intermediary capital. We also characterize conditions under which intermediaries …

for the liquidity costs on the estimation of idiosyncratic volatility diminishes to insignificance the ability of … idiosyncratic volatility estimates to predict future returns. We confirm our findings by examining external shocks to liquidity, due … in the pricing ability of idiosyncratic volatility. Finally, minimizing liquidity's influence on the estimated …

to the rise in filing costs associated with the reform, which can be interpreted as resulting from liquidity constraints …