Over-the-Counter Markets

By Darrell Duffie, Nicolae Gârleanu, Lasse Heje Pedersen. 2004

1,165 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/5f7ef5ec7d33900aa362f42df77048f4aec09e8f

Citations in the corpus

• Liquidity and asset-market dynamics (2010, unknown): “One version of this view is the claim that nance has something to learn from monetary theory, which is suggested (to us) by Kiyotaki and Moore (2005), Du¢ e et al. (2005,2008), and many of the other papers surveyed in Nosal and Rocheteau (2010) or Williamson and Wright (2010).”
• Competing on Speed (2018, unknown): “In contrast to Duffie et al. (2005), we do not model decentralized OTC trades through random search, a specific matching function, and a bargaining game.”
• Middlemen in Limit Order Markets (2016, unknown): “Closer to home are models on search in decentralized markets, e.g.,Duffie, Ĝarleanu, and Pedersen (2005), Lagos, Rocheteau, and Weill (2009), andDuffie, Malamud, and Manso (2009).”
• Trading Partners in the Interbank Lending Market (2013, unknown): “We find that Landesbanken lend to riskier borrowers after 2001.”
• Search Frictions and Market Power in Negotiated-Price Markets (2019, unknown): “The closest paper to our’s in the search and bargaining literature is Gavazza (2013), who studies the secondary business-aircraft market, and measures the misallocation of planes caused by the presence of search frictions relative to a perfectly competitive Walrasian market. In contrast, we evaluate”
• Price Dispersion in OTC Markets: A New Measure of Liquidity (2011, unknown): “Turning to models for OTC markets, Duffie et al. (2005) and Duffie et al.”
• Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB׳s Securities Markets Programme (2016, unknown): “…effects from SMP purchases can be explained in terms of reduced liquidity risk premia, default risk signaling effects, and possibly local supply effects in segmented markets (see Duffie, Garleanu, and Pedersen, 2005; Duffie, Garleanu, and Pedersen, 2007; and De Pooter, Martin, and Pruitt, 2013).”
• Efficiency and Stability of a Financial Architecture with Too-Interconnected-to-Fail Institutions (2017, unknown): “The theoretical modeling of OTC markets can be broadly divided into search-based and network-based models.3 The search-based approach pioneered by Duffie, Gârleanu, and Pedersen (2005) has been used to study liquidity (Duffie, Gârleanu, and Pedersen, 2007; Vayanos and Weill, 2008; Weill, 2008;…”
• Liquidity and Market Crashes (2009, unknown): “, Dumas (1992) and Wang (1996)) or beliefs (e.”
• Valuation in Over-the-Counter Markets (2006, unknown): “(Duffie, Gârleanu, and Pedersen (2003) study marketmakers and endogenize their search intensity.)”
• Leasing and Secondary Markets: Theory and Evidence from Commercial Aircraft (2011, unknown): “Therefore, using equations (17), (19) and (20):”
• Efficiently Inefficient Markets for Assets and Asset Management (2017, unknown): “…(and counter to the result of Grossman and Stiglitz (1980)) that markets can become close to efficient despite large information collection costs, but this result is driven by the fact that the costs are shared by investors through an increasingly efficient and consolidated group of asset managers.”