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The Need for Fees at a DEX: How Increases in Fees Can Increase DEX Trading Volume

Joel Hasbrouck,Thomas Rivera, Fahad Saleh   Aug 17,2022

Working Paper No.00080-00

We demonstrate that increasing trading fees at a decentralized exchange (DEX) can increase DEX trading volume. This result arises due... Read More

A Theory of Liquidity Spillover Between Bond and CDS Markets

Batchimeg Sambalaibat   Jul 07,2021

Working Paper No.00072-00

I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that... Read More