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The Search Theory of Over-the-Counter Markets

Authors
  • Weill, Pierre-Olivier
Type
Published Article
Journal
Annual Review of Economics
Publisher
Annual Reviews
Publication Date
Aug 02, 2020
Volume
12
Pages
747–773
Identifiers
DOI: 10.1146/annurev-economics-091819-124829
Source
Annual Reviews
Keywords
License
Yellow

Abstract

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 offer thematic tours of the literature and, in the process, discuss avenues for future research.

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