| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 967223 | Journal of Monetary Economics | 2011 | 15 Pages |
Abstract
⺠An OTC market where asset holders have private information. ⺠A pecking-order theory of payment arrangements. ⺠Asset liquidity depends on fundamentals and policy. ⺠Trades can shut down despite private information being revealed in equilibrium. ⺠Risk-free bonds have a lower rate of return than information-sensitive assets.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Guillaume Rocheteau,