Adverse selection and search congestion in over-the-counter markets
T Mäkinen, F Palazzo - Journal of Monetary Economics, 2024 - Elsevier
Asymmetric information about both private valuations of assets and their quality gives rise to
uncertainty over sellers' motives of trade, allowing high-valuation holders of low-quality …
uncertainty over sellers' motives of trade, allowing high-valuation holders of low-quality …
[PDF][PDF] Liquidity and Safety over the Business Cycle
A Ferrero, A Haas - 2023 - al-haas.github.io
This paper builds on two empirical observations:(i) financial conditions are relevant drivers
of the business cycle, and (ii) early stages of the 2007/08 financial crisis, in particular, were …
of the business cycle, and (ii) early stages of the 2007/08 financial crisis, in particular, were …