they must deliver the asset they borrowed. That asset enjoys greater liquidity, measured by search times, and a higher … establish long positions in a search spot market, or short positions by first borrowing an asset in a search repo market. We … show that short-sellers can endogenously concentrate in one asset because of search externalities and the constraint that …

We provide the impact on asset prices of search-and-bargaining frictions in over-the-counter markets. Under certain … shocks cause prices to jump, and then 'recover' over time, with a time signature that is exaggerated by search frictions. We …

This Paper develops a simple new methodology to test for asset integration and applies it within and between American … stock markets. Our technique is tightly based on a general intertemporal asset-pricing model, and relies on estimating and …

substitution or ‘EMRS’, using only data on asset prices and returns. Our empirical strategy is general, and allows the EMRS to vary … with considerable precision and time-series volatility. We then use these estimates to test for asset integration, both …

services, such as childcare. This study empirically investigates how perceived search costs and parental life satisfaction …

-sharing due to search frictions implies that ‘good’ jobs which have higher creation costs must pay higher wages. This wage …

be attributed to unobserved components in those characteristics. An assignment model with search frictions provides a …. The impact of search frictions on wages is large. Our results relate to the literature on industry wage differentials, on … structural identification in hedonic models, and on wage posting versus Nash bargaining in search models. …