Global ETD Search
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Showing 1 to 3 of 3 for “"OTC markets"”.
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Essays on Asset Pricing
… a closer look at one particular type of asset markets -- the over-the-counter (OTC) markets, and analyzes how trade disclosure impacts market participants' optimal game-strategic behaviors. My co-authors and I show that mandatory trade disclosure makes a market intermediary engage in costly …
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Essays on Information in Financial Markets
… the size of search and information frictions in OTC markets. I use transaction data for the U.S. corporate bond market to structurally estimate a model featuring both frictions via the simulated method of moments. The data support the notion that trades are informative and that uncertainty about …
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Essays in Financial Economics
… and welfare in dynamic over the counter (OTC) markets. We show more transparency, via the public disclosure of additional information about past trades, paradoxically, makes the markets more opaque, by reducing market price informativeness. However, this market opacity creates liquidity …