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of 69
pro vyhledávání: '"Pierre-Olivier Weill"'
Publikováno v:
The Review of Economic Studies. 89:3223-3266
Should regulators encourage the migration of trade from over-the-counter (OTC) to centralized markets? To address this question, we study a model in which banks make costly decisions to participate in an OTC market, a centralized market, or both mark
Publikováno v:
Journal of Monetary Economics. 117:64-90
A New-Monetarist model is constructed with expenditure and unemployment risks that generates equilibria with non-degenerate distribution of money holdings. Distributional effects can overturn key insights of the model with degenerate distributions, e
Autor:
Pierre-Olivier Weill
Publikováno v:
Annual Review of Economics. 12:747-773
I review the recent literature that applies search-and-matching theory to the study of over-the-counter financial markets. I formulate and solve a simple model to illustrate the typical assumptions and economic forces at play in existing work. I then
Publikováno v:
The Review of Economic Studies. 87:1432-1469
We extend Duffie et al.’s (2005) search-theoretic model of over-the-counter (OTC) asset markets, allowing for a decentralized inter-dealer market with arbitrary heterogeneity in dealers’ valuations (or, equivalently, inventory costs). We develop
Publikováno v:
NBER Macroeconomics Annual. 33:81-145
Autor:
Pierre-Olivier Weill
I review the recent literature that applies search-and-matching theory to the study of Over-the-Counter (OTC) financial markets. I formulate and solve a simple model in order to illustrate the typical assumptions and economic forces at play in existi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::716b57d9bbed9def9ef7e0e4e164001b
https://doi.org/10.3386/w27354
https://doi.org/10.3386/w27354
Publikováno v:
Research Brief (Federal Reserve Bank of Philadelphia).
We study liquidity conditions in the corporate bond market during the COVID-19 pandemic, and the effects of the unprecedented interventions by the Federal Reserve. We find that, at the height of the crisis, liquidity conditions deteriorated substanti
Autor:
Pierre-Olivier Weill
Publikováno v:
SSRN Electronic Journal.
Publikováno v:
Review of Economic Dynamics. 33:1-3
Should regulators encourage the migration of trade from over-the-counter (OTC) to centralized markets? To address this question, we consider a model of equilibrium and socially optimal market participation of heterogeneous banks in an OTC market, in
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::620baf15ab330d6f04cc38f3e0fa2a97
https://doi.org/10.3386/w25887
https://doi.org/10.3386/w25887