Liquidity and Trading Dynamics

Veronica Guerrieri, Guido Lorenzoni

NBER Working Paper No. 13204
Issued in June 2007

---- Acknowledgements -----

We thank for helpful comments Daron Acemoglu, Fernando Alvarez, Marios Angeletos, Boragan Aruoba, Gabriele Camera, Ricardo Cavalcanti, Chris Edmond, Ricardo Lagos, Robert Lucas, David Marshall, Robert Shimer, Nancy Stokey, Christopher Waller, Ivàn Werning, Randall Wright, and seminar participants at MIT, Cleveland Fed (Summer Workshop on Money, Banking, and Payments), University of Maryland, University of Notre Dame, Bank of Italy, AEA Meetings (Chicago), Chicago Fed, Stanford University, the Philadelphia Fed Monetary Macro Workshop, UCLA, San Francisco Fed, St. Louis Fed, and University of Chicago GSB. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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