The Market for OTC Derivatives
收藏NBER2013-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w18912
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资源简介：
We develop a model of equilibrium entry, trade, and price formation in over-the- counter (OTC) markets. Banks trade derivatives to share an aggregate risk subject to two trading frictions: they must pay a fixed entry cost, and they must limit the size of the positions taken by their traders because
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美国国家经济研究局创建时间：
2013-03-01
