An introduction to liquidity and crises / Franklin Allen ... [et al.]. Preference shocks, liquidity, and central bank policy / Sudipto Bhattacharya and Douglas Gale -- Endogenous liquidity in asset markets / Andrea L. Eisfeldt -- Financial intermediaries and markets / Franklin Allen and Douglas Gale -- Financial fragility, liquidity, and asset prices / Franklin Allen and Douglas Gale -- Interbank market integration under asymmetric information / Xavier Freixas and Cornelia Holthausen -- Banks as monitors of other banks: evidence from the overnight federal funds market / Craig H. Furfine -- Private and public supply of liquidity / Bengt Holmstrèom and Jean Tirole -- Liquidity, efficiency, and bank bailouts / Gary Gorton and Lixin Huang -- Asset market linkages in crisis periods / Philipp Hartmann, Stefan Straetmans, and Casper de Vries -- Strategic complementarities and the twin crises / Itay Goldstein -- Inefficient foreign borrowing: a dual- and common-agency perspective / Jean Tirole -- Exchange rate volatility and the credit channel in emerging markets: a vertical perspective / Ricardo Caballero and Arvind Krishnamurthy.