Frictional Intermediation in Over-the-counter Markets
收藏NBER2018-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w24956
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资源简介：
We extend Duffie, Garleanu, and Pedersens (2005) search-theoretic model of over-the-counter asset markets, allowing for a decentralized inter-dealer market with arbitrary heterogeneity in dealers valuations or inventory costs. We develop a solution technique that makes the model fully tractable and
提供机构：
美国国家经济研究局
创建时间：
2018-09-01
