Discussion Paper Details

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Title: The search theory of OTC markets

Author(s): Pierre-Olivier Weill

Publication Date: June 2020

Keyword(s): Asset Pricing, OTC markets and search frictions

Programme Area(s): Financial Economics

Abstract: I review the recent literature that applies search-and-matching theory to the study of Over-the-Counter (OTC) financial markets. I formulate and solve a simple model in order 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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Bibliographic Reference

Weill, P. 2020. 'The search theory of OTC markets'. London, Centre for Economic Policy Research.