2002 LAWRENCE R. KLEIN LECTURE LIQUIDITY AND ASSET PRICES*
定义流动性资产为可快速转售且到期前可被多人持有的资产，通过构建货币经济模型，分析流动性、资产价格与总体经济活动之间的相互作用。
We broadly define liquid assets, or monetary assets, as any asset that can be readily sold in the market and can be held by a number of people in succession before maturity. We ask in what environment is the circulation of liquid assets essential for the smooth running of the economy. By developing a canonical model of a monetary economy (i.e., where the circulation of liquid assets is essential), we are able to examine the interaction between liquidity, asset prices, and aggregate economic activity.