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Budish, Eric B.; Cramton, Peter C.; Kyle, Albert S.; … - National Bureau of Economic Research - 2023

-linear demand curves with quantities as flows (shares/second). Batch auctions clear all asset markets jointly in discrete time …

Persistent link: https://www.econbiz.de/10014250116

Multiplicity in general financial equilibrium with portfolio contraints

Başak, Suleyman; Cass, David; Licari, Juan Manuel; … - In: Journal of economic theory 142 (2008) 1, pp. 100-127

Persistent link: https://www.econbiz.de/10003766371

Illiquid Lemon Markets and the Macroeconomy

Bierdel, Aimé; Drenik, Andres; Herreño, Juan; … - National Bureau of Economic Research - 2023

We study the macroeconomic implications of asymmetric information in capital markets. We build a quantitative capital-accumulation model in which capital is traded in illiquid markets, with sellers having more information about capital quality than buyers. Asymmetric information distorts the...

Persistent link: https://www.econbiz.de/10014372468

Taking Orders and Taking Notes : Dealer Information Sharing in Treasury Markets

Boyarchenko, Nina - 2016

explore how information sharing affects dealers, clients and issuer revenues in U.S. Treasury auctions. Because one cannot …

Persistent link: https://www.econbiz.de/10012456216

Welfare and Optimal Trading Frequency in Dynamic Double Auctions

Du, Songzi - 2014

demand schedules in a sequence of double auctions. A stationary linear equilibrium and its efficiency properties are … characterized explicitly in closed form. Infrequent trading (few double auctions per unit of time) leads to a larger market depth in …

Persistent link: https://www.econbiz.de/10012458077