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...Market liquidity a primer june l the brookings institution douglas j elliott fellow economic studies introduction overview and recommendations us financial markets are critical to refers ability of buyers functioning our entire economy providing sellers securities transact efficiently more credit for example than banks do is measured by speed with which large unusually have been an purchases sales can be executed american competitive advantage years transaction costs incurred in doing so these cost effective means matching investors worthy companies projects include both explicit commission or therefore current debate about whether bid ask spread often larger loss from drying up important moving price act making one since buy sell offer block this latter central effect ties volatility as provides issues volumes lead bigger addressing following questions movements when illiquid what we care because it why affects returns such those has actually declined saving retirement college recent ...