Por favor, use este identificador para citar o enlazar este ítem:
http://cide.repositorioinstitucional.mx/jspui/handle/1011/837| Endogenous search concentration in OTC markets | |
| Alexander Dentler | |
| Acceso Abierto | |
| Atribución-NoComercial-SinDerivadas | |
| Over-the-counter markets -- Econometric models. Federal funds market (United States) -- Econometric models. Equilibrium (Economics) -- Econometric models. | |
| To explain the core-periphery structure observed in many OTC markets we augment a random matching model in three ways: we introduce preference heterogeneity in types and allow agents to choose how intense they meet specific types. Agents with the least-concave preferences are more likely to join the intermediating core and, as quasy market-makers, have more contacts and larger transfers per meet similar to empirical observations. Further, we observe persistence in the intermediating role and, as a novel feature, can make prediction about who contacts whom: high-cost agents who are away from target contact low-cost agents more intensely that the other way around. | |
| Centro de Investigación y Docencia Económicas A. C. | |
| 2019 | |
| Documento de trabajo | |
| Inglés | |
| Estudiantes Investigadores | |
| CIENCIAS SOCIALES | |
| Versión publicada | |
| publishedVersion - Versión publicada | |
| Aparece en las colecciones: | División de Economía, Documentos de Trabajo |
Cargar archivos:
| Fichero | Descripción | Tamaño | Formato | |
|---|---|---|---|---|
| 000164983_documento.pdf | Documento electrónico | 585.61 kB | Adobe PDF | Visualizar/Abrir |