The Search Theory of Over-the-Counter Markets

被引：14
作者：
Weill, Pierre-Olivier [1 ,2 ,3 ]
机构：
[1] Univ Calif Los Angeles, Dept Econ, Los Angeles, CA 90095 USA
[2] NBER, Cambridge, MA 02138 USA
[3] Ctr Econ Policy Res, London EC1V 0DX, England
来源：
ANNUAL REVIEW OF ECONOMICS, VOL 12 | 2020年 / 12卷
关键词：
search frictions; over-the-counter markets; asset pricing; ADVERSE SELECTION; INFORMATION PERCOLATION; TRADING DYNAMICS; MONETARY-POLICY; ASSET MARKETS; FUNDS MARKET; BOND MARKET; LIQUIDITY; EQUILIBRIUM; MODEL;
D O I：
10.1146/annurev-economics-091819-124829
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
I review the recent literature that applies search-and-matching theory to the study of over-the-counter financial markets. I formulate and solve a simple model to illustrate the typical assumptions and economic forces at play in existing work. I then offer thematic tours of the literature and, in the process, discuss avenues for future research.
引用
收藏
页码：747 / 773
页数：27
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