Endogenous Liquidity in Asset Markets

By Andrea L. Eisfeldt. 2004

373 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d38bf171b5f8517a81ae1166f2a251f3e36db107

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Citations in the corpus

Equity Market Misvaluation, Financing, and Investment (2015, background): “An example of such a friction might be exogenous incomplete markets, as in Eisfeldt (2004), or a continuous inflow of private information.”
Capital Reallocation and Liquidity (2006, neutral): “Shleifer and Vishny (1992) and Eisfeldt (2004) do focus on secondary markets for capital but are not quantitative.”
A Liquidity-Based Theory of Closed-End Funds (2009, background): “7 For a discussion of asymmetric information and illiquidity, see Glaeser and Kallal (1997), DeMarzo (2005), and Eisfeldt (2004) .”
Stock and Bond Market Liquidity: A Long-Run Empirical Analysis (2009, background): “Positive productivity shocks can be related to higher economic activity (McQueen and Roley (1993)) when risky assets are more attractive investments (Eisfeldt (2004)).”
Stock Market Declines and Liquidity (2010, neutral): “In Eisfeldt(2004), liquidity is endogenously determined and is procyclical: assets are less liquid in bad times.”
Financial Expertise as an Arms Race (2012, neutral): “Several models of 1 See the pioneering paper by Akerlof (1970) on adverse selection and more recent papers on its role in financial crises by Eisfeldt (2004), Kirabaeva (2009), Daley and Green (2010), and Kurlat (2010), among many others.”
Market liquidity and funding liquidity (2009, neutral): “The market liquidity literature shows that a security can be costly to trade — that is, has less than perfect market liquidity — because of exogenous order-processing costs, private information (Kyle (1985) and Glosten and Milgrom (1985)), inventory risk of market makers (e.g. Stoll (1978), Ho and S”
Adverse Selection and Liquidity Distortion (2011, neutral): “Interestingly and probably counter-intuitively, at the macro level, Eisfeldt and Rampini (2006) documented that capital reallocation is procyclical while the cross-sectional dispersion of productivity is countercyclical.”