资产定价、公司金融、货币政策等领域都有出现“流动性”的身影,看似不同的概念范畴却有着千丝万缕的联系。本文考察不同领域流动性之间的内在联系,从流动性问题已有成果出发,试图为解决经济学中微观、宏观相对分离的状态提供基础。本文指出不同领域的流动性并不是孤立存在的,而有着密不可分的内在联系:各领域中流动性的研究范畴本质上都围绕着流动性的基本属性展开,并且经济主体的流动性管理行为是联结宏观流动性与微观流动性的纽带。 Asset pricing, corporate finance, monetary policy and other fields have emerged “liquidity ” figure, seemingly different concept categories are inextricably linked. This paper examines the intrinsic relations between the liquidity in different fields and from the existing results of the liquidity problem, tries to provide a basis for solving the relative separation of micro and macro in economics. This article points out that the liquidity in different fields does not exist in isolation but has an inseparable internal connection: the research scope of liquidity in all fields essentially revolves around the basic properties of liquidity, and the liquidity management behavior of economic subjects is Link between macro liquidity and micro liquidity.