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The New Economics of Liquidity and Financial Frictions

Author: David Adler
Date: December 2014

Abstract:      

The New Economics of Liquidity and Financial Frictions is a book about a new branch of economics that is largely a synthesis of macro and finance. In many ways, it is a radical departure from the older, frictionless approach still prevalent in economic textbooks and most of academia. This book provides a new understanding and approach to asset pricing, risk measurement and management, central banking policy, and the overall working of today’s economy, including questions of financial stability.

Geography: Global

Type of study: Consulting research, International organisation

Relevant for: All

Source: The CFA Institute Research Foundation

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