To Pool or Not to Pool? Security Design in OTC Markets
收藏NBER2020-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27361
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资源简介：
We study security issuers' decision whether to pool assets when facing counterparties endowed with market power, as is common in over-the-counter markets. Unlike in competitive markets, pooling assets may be suboptimal in the presence of market power - both privately and socially - in particular,
提供机构：
美国国家经济研究局
创建时间：
2020-06-01
