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Liquidity and exchanges, or contracting with the producers

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  • Yaron Leitner

Abstract

Yaron Leitner discusses liquidity, a desirable feature of a well-functioning market. In \\"Liquidity and Exchanges, or Contracting with the Producers,\\" Leitner explains how exchanges can provide liquidity. He also discusses his recent research, which explains some contractual problems that may arise in very liquid markets, as well as the potential role of an exchange in overcoming these problems.

Suggested Citation

  • Yaron Leitner, 2004. "Liquidity and exchanges, or contracting with the producers," Business Review, Federal Reserve Bank of Philadelphia, issue Q1, pages 16-22.
    • Handle: RePEc:fip:fedpbr:y:2004:i:q1:p:16-22
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    References listed on IDEAS

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    1. Bizer, David S & DeMarzo, Peter M, 1992. "Sequential Banking," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 41-61, February.
    2. Alberto Bisin & Adriano Rampini, 2006. "Exclusive contracts and the institution of bankruptcy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(2), pages 277-304, January.
    3. Amihud, Yakov & Mendelson, Haim, 1980. "Dealership market : Market-making with inventory," Journal of Financial Economics, Elsevier, vol. 8(1), pages 31-53, March.
    4. Glosten, Lawrence R, 1989. "Insider Trading, Liquidity, and the Role of the Monopolist Specialist," The Journal of Business, University of Chicago Press, vol. 62(2), pages 211-235, April.
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