The article explores how the amount of money available in the economy affects how easily assets can be bought or sold in the stock market. By studying different types of money supply, the researchers found that M2 and M1 are linked to lower market illiquidity, while M0 doesn't have the same effect. Increasing M2 and M1 can reduce market volatility risk, but increasing M0 can make it worse. Overall, market liquidity risk is the main factor influencing market liquidity risk levels.