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Start Over Descriptor "Financial intermediation -- Models" Journal american economic review
1 results on '"Financial intermediation -- Models"'

1. Search in asset markets: market structure, liquidity, and welfare

Author

Lagos, Ricardo and Rocheteau, Guillaume

Subjects
Financial intermediation -- Models, Markets (Economics) -- Analysis, Liquidity (Finance) -- Analysis, Assets (Accounting) -- Analysis, Business, Economics
Abstract

The effects of the organization of an asset market on liquidity are studied using a model of financial intermediation. Findings reveal that a reform that lowers the market power of the dealers may result to reduced trading costs, dealers' net entry, and an increased trade volume. The model also indicates that markets of similar structures may post different liquidity results.

Published
2007

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