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The emergence and future of central counterparties
Koeppl, Thorsten V.; Monnet, Cyril - Federal Reserve Bank of Philadelphia - 2010
not essential for these services, it does not explain why CCPs exist. In over-the-counter markets, as contracts are …
Persistent link: https://www.econbiz.de/10008676448
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Competing for order flow in OTC markets
Lester, Benjamin; Rocheteau, Guillaume; Weill, … - Federal Reserve Bank of Philadelphia - 2014
market for corporate bonds. Third, dealers’ implicit bargaining powers are endogenous and typically vary across sub-markets …
Persistent link: https://www.econbiz.de/10010752601
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Market run-ups, market freezes, and leverage
Bond, Philip; Leitner, Yaron - Federal Reserve Bank of Philadelphia - 2010
and trade volume first increase, and then markets break down. The authors use their model to discuss implications for … regulatory intervention in illiquid markets. ; Superseded by Working Paper 12-8 …
Persistent link: https://www.econbiz.de/10008764362
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Market run-ups, market freezes, inventories, and leverage
Bond, Philip; Leitner, Yaron - Federal Reserve Bank of Philadelphia - 2013
implications and implications for regulatory intervention in illiquid markets. …
Persistent link: https://www.econbiz.de/10010739560
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Market run-ups, market freezes, inventories, and leverage
Bond, Philip; Leitner, Yaron - Federal Reserve Bank of Philadelphia - 2012
prices and volumes first increase, and then markets break down. Moreover, the presence of competing buyers may amplify the … increased-price effect. We discuss implications for regulatory intervention in illiquid markets. …
Persistent link: https://www.econbiz.de/10011027309
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Interest rates and prices in an inventory model of money with credit
Dotsey, Michael; Guerron-Quintana, Pablo - Federal Reserve Bank of Philadelphia - 2012
whose use is calibrated to U.S. data has important implications for economic behavior in a segmented markets model. …
Persistent link: https://www.econbiz.de/10010628487
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Competing with asking prices
Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald - Federal Reserve Bank of Philadelphia - 2013
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to … variety of real world markets, asking prices have received little attention in the academic literature. We construct an …
Persistent link: https://www.econbiz.de/10010628488
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Nontraded goods, market segmentation, and exchange rates.
Dotsey, Michael; Duarte, Margarida - Federal Reserve Bank of Philadelphia - 2006
Empirical evidence suggests that movements in international relative prices (such as the real exchange rate) are large and persistent. Nontraded goods, both in the form of final consumption goods and as an input into the production of final tradable goods, are an important aspect behind...
Persistent link: https://www.econbiz.de/10005512345