paper evaluates the impact of dark trading and fragmentation in visible order books on liquidity. We consider global … liquidity by consolidating the limit order books of all visible trading venues, and local liquidity by considering the … traditional market only. We find that fragmentation in visible order books improves global liquidity, whereas dark trading has a …

. We exploit this quasinatural experiment to investigate the impact this change had on liquidity and trading behavior. Our …

This study addresses the impact of equity market liquidity on Canadian economic growth and investigates how consumer … attitudes/sentiments affect the dynamic macro-liquidity relationship. Using various market liquidity proxies (e.g., illiquidity … results: we document the predictability role of liquidity on future economic growth, and we find that during periods of high …

order books. This paper evaluates the impact on liquidity of fragmentation in visible order books and dark trading for a … sample of 52 Dutch stocks. We consider global liquidity by consolidating the entire limit order books of all visible European … trading venues, and local liquidity by considering the traditional market only. We find that fragmentation in visible order …

We study how banking competition may affect the stability of banking systems. We develop our study by expanding the …

We study how competition may affect the stability of banking systems. We modify the failure-determinant methodology to …

for the stock to an auctioneer who selects a price that clears the market. Liquidity is ensured by rational, small …-competitive traders, which may result in multiple equilibria may exist. These potentially destabilizing effects of imperfect competition …