Details about Benjamin R. Lester

Access statistics for papers by Benjamin R. Lester.

Last updated 2019-10-09. Update your information in the RePEc Author Service.

Short-id: ple283

Working Papers

2019

1. Frictional Intermediation in Over-the-Counter Markets
   2019 Meeting Papers, Society for Economic Dynamics
   Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2018)
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2018)
   NBER Working Papers, National Bureau of Economic Research, Inc (2018)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (1)
   Working Papers, Federal Reserve Bank of Philadelphia (2019)
2. Heterogeneity in Decentralized Asset Markets
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2014) View citations (9)
   NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (27)
   2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (9)
   Working Papers, Federal Reserve Bank of Philadelphia (2015) View citations (14)

2018

3. A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow
   Working Papers, Federal Reserve Bank of Philadelphia View citations (1)
   Also in Staff Reports, Federal Reserve Bank of New York (2018) View citations (1)
   See also Journal Article in Review of Economic Dynamics (2019)
4. Job Referrals and Skills
   2018 Meeting Papers, Society for Economic Dynamics
5. Market-making with Search and Information Frictions
   Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (2)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (2)
   Working Papers, Federal Reserve Bank of Philadelphia (2018) View citations (2)

2017

6. Market-Making with Search and Private Information
   2017 Meeting Papers, Society for Economic Dynamics
7. Screening and Adverse Selection in Frictional Markets
   Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
   Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (11)
   Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2016)
   Working Papers, Federal Reserve Bank of Philadelphia (2016) View citations (4)
   NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (15)
   See also Journal Article in Journal of Political Economy (2019)

2016

8. Adverse Selection, Search Frictions and Liquidity in Financial Markets
   2016 Meeting Papers, Society for Economic Dynamics
9. Competing with Asking Prices
   CESifo Working Paper Series, CESifo Group Munich View citations (3)
   Also in ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh (2015) View citations (2)
   UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2014)
   IZA Discussion Papers, Institute of Labor Economics (IZA) (2013) View citations (7)
   SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014)
   Working Papers, University of Toronto, Department of Economics (2013) View citations (11)
   2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (7)
   Working Papers, Federal Reserve Bank of Philadelphia (2013) View citations (5)
   See also Journal Article in Theoretical Economics (2017)
10. Excess Reserves and Monetary Policy Implementation
    Working Papers, Federal Reserve Bank of Philadelphia View citations (5)
    See also Journal Article in Review of Economic Dynamics (2017)
11. Excess reserves and monetary policy normalization
    Working Papers, Federal Reserve Bank of Philadelphia View citations (8)
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (5)
12. INFORMATION SPILLOVERS, GAINS FROM TRADE, AND INTERVENTIONS IN FROZEN MARKETS
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
    See also Journal Article in Review of Financial Studies (2016)
13. Interviews and the Assignment of Workers to Firms
    2016 Meeting Papers, Society for Economic Dynamics View citations (1)

2015

14. Dynamic Relational Contracts under Complete Information
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE)

2014

15. Competing for Order Flow in OTC Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2014) View citations (15)
    See also Journal Article in Journal of Money, Credit and Banking (2015)
16. Competing with Asking Prices (first version)
    ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh View citations (2)
17. Decentralized Asset Markets with a Continuum of Types
    2014 Meeting Papers, Society for Economic Dynamics
18. Meeting Technologies and Optimal Trading Mechanisms in Competitive Search Markets
    Working Papers, University of Toronto, Department of Economics View citations (5)
    Also in ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh (2014) View citations (1)
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014) View citations (2)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2014) View citations (1)
    Working Papers, Federal Reserve Bank of Philadelphia (2014) View citations (1)
    2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (2)
    IZA Discussion Papers, Institute of Labor Economics (IZA) (2014) View citations (1)
    See also Journal Article in Journal of Economic Theory (2015)
19. OTC Trading vs. Exchanges: A welfare comparison
    2014 Meeting Papers, Society for Economic Dynamics

2013

20. Subsidizing price discovery
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (6)

2012

21. Asking Prices and Inspection Goods
    2012 Meeting Papers, Society for Economic Dynamics
22. Interviews and the Assignment of Workers to Jobs
    2012 Meeting Papers, Society for Economic Dynamics View citations (3)

2011

23. Trading Dynamics in Decentralized Markets with Adverse Selection
    2011 Meeting Papers, Society for Economic Dynamics View citations (8)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (2)
    Working Papers, Federal Reserve Bank of Philadelphia (2011) View citations (26)
    See also Journal Article in Journal of Economic Theory (2014)

2010

24. Information, Liquidity, Asset Prices and Monetary Policy, Second Version
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

2008

25. Endogenous, State-Dependent Matching with Implications for the Cyclical Behavior of Unemployment
    2008 Meeting Papers, Society for Economic Dynamics
26. Information, Liquidity and Asset Prices
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania View citations (15)

2006

27. A Model of Interbank Settlement
    2006 Meeting Papers, Society for Economic Dynamics View citations (4)

Journal Articles

2019

1. A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow
   Review of Economic Dynamics, 2019, 33, 177-204 View citations (1)
   See also Software Item (2019)
   Working Paper (2018)
2. Implementing Monetary Policy in a Changing Federal Funds Market
   Economic Insights, 2019, 4, (2), 15-20
3. RED Special Issue on Fragmented Financial Markets: An Introduction
   Review of Economic Dynamics, 2019, 33, 1-3
4. Screening and Adverse Selection in Frictional Markets
   Journal of Political Economy, 2019, 127, (1), 338 - 377
   See also Working Paper (2017)

2017

5. Competing with asking prices
   Theoretical Economics, 2017, 12, (2) View citations (7)
   See also Working Paper (2016)
6. Excess Reserves and Monetary Policy Implementation
   Review of Economic Dynamics, 2017, 23, 212-235 View citations (14)
   See also Software Item (2016)
   Working Paper (2016)

2016

7. Information Spillovers, Gains from Trade, and Interventions in Frozen Markets
   Review of Financial Studies, 2016, 29, (5), 1291-1329 View citations (4)
   See also Working Paper (2016)

2015

8. Competing for Order Flow in OTC Markets
   Journal of Money, Credit and Banking, 2015, 47, (S2), 77-126 View citations (10)
   See also Working Paper (2014)
9. Meeting technologies and optimal trading mechanisms in competitive search markets
   Journal of Economic Theory, 2015, 155, (C), 1-15 View citations (31)
   See also Working Paper (2014)
10. Why ask? the role of asking prices in transactions
    Business Review, 2015, (Q4), 1-4 View citations (2)

2014

11. Trading dynamics in decentralized markets with adverse selection
    Journal of Economic Theory, 2014, 153, (C), 534-568 View citations (24)
    See also Working Paper (2011)

2013

12. Breaking the ice: government interventions in frozen markets
    Business Review, 2013, (Q4), 19-25 View citations (2)

2012

13. Information Acquisition and the Exclusion of Evidence in Trials
    Journal of Law, Economics, and Organization, 2012, 28, (1), 163-182 View citations (4)
14. Information, Liquidity, Asset Prices, and Monetary Policy
    Review of Economic Studies, 2012, 79, (3), 1209-1238 View citations (112)

2011

15. Information and Liquidity
    Journal of Money, Credit and Banking, 2011, 43, 355-377 View citations (41)
16. Information and Prices with Capacity Constraints
    American Economic Review, 2011, 101, (4), 1591-1600 View citations (36)

2010

17. Directed search with multi-vacancy firms
    Journal of Economic Theory, 2010, 145, (6), 2108-2132 View citations (27)

2009

18. Settlement Systems
    The B.E. Journal of Macroeconomics, 2009, 9, (1), 1-35 View citations (3)

Software Items

2019

1. Code and data files for "A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2019)

2016

2. Code and data files for "Excess Reserves and Monetary Policy Implementation"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2017)