Characteristics of market liquidity

The characteristics of market liquidity, accoridng to Kyle, are tightness of the market, depth of the marekt and resiliency of prices. By referring to tightness, it descriebes the cost of turning around a position over a short period of time. Does this mean the cost to change your position in a risky security from short to long in the short term? The depth reflect the size of an order flow inovvation required to change prices a given amount, and this means the order flow necessary to induce prices to rise or fall by $$1\$$. But what is the intuition behind resilienc of the market? It confuses me a little in the way Kyle sets this.

• An empirical measure of "tightness" could be the bid-ask spread posted by market makers. It's the cost of turning around a position---e.g. buying and then selling. – Michael May 24 '20 at 7:32
• Silly question, but does this meand the opposite also? Namely, does this mean selling and then buying? – Hunger Learn May 24 '20 at 8:53
• Yes, it's the cost of a round-trip trade, taking and then closing a position. – Michael May 25 '20 at 1:04