anomalous. The theory also exhibits rational expectations equilibria with recurring belief driven events that resemble liquidity … prices and standard measures of financial liquidity, such as bid-ask spreads, trade volume, and the incentives of dealers to …. The theory predicts that asset prices carry a speculative premium that reflects the asset's marketability and depends on …

In over-the-counter markets, the presence of two frictions is central to determine prices, liquidity, and efficiency … specifications of delay, the set of traded assets and the dependence of asset prices and spreads on default risk, liquidity, and … offers a novel testable prediction: for assets within the same credit rating class, the liquidity is U-shaped in quality …

anomalous. The theory also exhibits rational expectations equilibria with recurring belief driven events that resemble liquidity … prices and standard measures of financial liquidity, such as bid-ask spreads, trade volume, and the incentives of dealers to …. The theory predicts that asset prices carry a speculative premium that reflects the asset's marketability and depends on …

anomalous. The theory also exhibits rational expectations equilibria with recurring belief driven events that resemble liquidity … prices and standard measures of financial liquidity, such as bid-ask spreads, trade volume, and the incentives of dealers to …. The theory predicts that asset prices carry a speculative premium that reflects the asset's marketability and depends on …

financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for … improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule …