Working Paper No.00052-02
Should regulators encourage the migration of trade from over-the-counter (OTC) to centralized markets? To address this question, we study a...
Published: Review of Economic Studies, 2022, 89(6), 3223-3266
Working Paper No.00058-00
We develop an overlapping generations model with disagreement about the cross-sectional distribution of investors’ preferences and beliefs. This disagreement implies...