The answer is that you need to add "liquidity preference", the supply and demand for money.

答案就是，你要把“流动性偏好”，也就是对现金的需求和供给加入考虑。

youdao

For a big country, when the international emergency occurs, if the need to provide the country rely on international currency liquidity support, in terms of which the country is very passive.

对于大国而言，当发生国际突发事件时，如果需要依靠国际货币发行国提供流动性支持，这对该国而言是很被动的。

youdao

How to measure and calculate the risk of liquidity and which main determinants influence the liquidity of market need deep study, which is very important for investors and market supervisor.

流动性风险的测算研究和影响流动性的因素研究，对投资者和市场监管者都意义重大，这是本文选题的依据和出发点。

youdao

Here, two related issues have emerged: the avoidance of risk and the need for liquidity.

ECONOMIST: Nothing to fear but fear itself

The need for liquidity was already addressed in deciding the apportionment among personal risk, market risk and aspirational risk.

FORBES: Investors Learn The Hard Way That Liquidity Is King During Market Meltdowns

They include the risks posed by longevity, or the danger of outliving one's money, inflation, market volatility, the need for liquidity to cover unexpected expenses and for health care.

FORBES: Magazine Article