1. however, was also strongest: the sale probability was more than 6 times larger in 2016Q4 than in 2013Q1. Figure 2: Two constant-quality illiquidity indices and an index of the mean TOM of sold properties;smaller 2013Q1 than in 2007Q4. The recovery (2013Q1-2016Q4),2005
2. Illiquidity spillover : the cross-market impact of firm level illiquidity
3. Illiquidity spillover : the cross-market impact of firm level illiquidity