The Optimum Liquidity Theory and Other Essays - Pascal Blanqué - Economica - broché - Etude

This book is a collection of essays on liquidity with a specific market and investment perspective. Liquidity is an elusive notion that remains central to the functioning of modern economies and also to the crises they undergo. Liquidity is hard to define but easy to recognise. This book comprises 3 parts.Money, Psyche and Liquidity (Part I) deals with the monetary dynamics of liquidity in connection with a psychological referential structured by powerful forces of duration, memory and forgetfulness. The quantity equation of money and important notions such as the interest rate and the velocity of money are, accordingly, revisited from this psychological angle.Part II deals with the liquidity function. We give a theoretical description of the function, together with applied practical aspects thereof, in connection with the phenomena of multiplication and acceleration, in particular. Important developments are dedicated to the relationship between liquidity and value that leads to the p