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functioning and efficiency of financial markets. In this paper, we develop a general equilibrium theory to study the … distributional effects of asset ownership for price informativeness when investors (oligopolists) have price impact and can learn … about individual assets' payoffs. We find that price informativeness is non-monotonic in the oligopolists' aggregate size …
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information passthrough channel, which we show is the quantitatively largest of the three. We find that price informativeness is …
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The internationalization of financial markets is one of the focal points in the discussion about recent globalization trends. These discussions suggest that capital can move freely between countries. However, there is ample evidence that national borders do matter and that there are many...
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