Search Frictions and Product Design in the Municipal Bond Market
收藏NBER2022-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w30775
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资源简介：
This paper shows that product design shapes search frictions and that intermediaries leverage this channel to increase their rents in the context of the U.S. municipal bond market. The majority of bonds are designed via negotiations between a local government and its underwriter. They are then
提供机构：
美国国家经济研究局
创建时间：
2022-12-01
