摘要
流动性及其相关领域研究一直是学术界的热点,对于流动性的定义、分类、衡量方式、及其与资产价格关系等角度的讨论从未停止。本文将学术界在流动性范畴所进行的研究内容和进展做了系统性梳理,全面回顾了流动性细分领域的相关研究,总结了流动性溢价与资产定价、流动性冲击与资产价格波动等方向的学术探讨,并提出了目前研究焦点及未来发展方向。
Liquidity and its related fields are always the academic focus, debates and arguments about its definitions, classifications, measurements and the relation between liquidity and asset pricing have never stopped. In this article, we systematically summarize the studies on all the categories of liquidity, comprehensively review the researches on liquidity premia, relationships between liquidity shocks and asset price volatilities, and eventually tease out the hot spots of this field and directions of future studies.
出处
《投资研究》
CSSCI
2017年第10期129-142,共14页
Review of Investment Studies
关键词
宏观流动性
市场流动性
融资流动性
流动性冲击
Macroeconomic Liquidity, Market Liquidity, Funding Liquidity, Liquidity Shocks
