search query: @author Shin, H.S. / total: 2
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| Author: | Morris, S. Shin, H.S. |
| Title: | Liquidity black holes |
| Journal: | Review of finance
2004 : VOL, 8:1, p. 1-18 |
| Index terms: | Finance Financial market trading |
| Language: | eng |
| Abstract: | This article studies the black hole of liquidity which is an analogue of the run outcome in a bank run model. When the price of an asset falls close to the loss limits of the short-term traders, selling of risky assets by any trader increases the incentive for others to sell. Sales become mutually reinforcing among the short-term traders, and the liquidity black hole may come into existence. |
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