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Details about Benjamin R. Lester

E-mail:
Homepage:http://sites.google.com/site/benjaminrlester
Workplace:Research Department, Federal Reserve Bank of Philadelphia, (more information at EDIRC)
Department of Economics, University of Pennsylvania, (more information at EDIRC)
Department of Economics, University of Western Ontario, (more information at EDIRC)

Access statistics for papers by Benjamin R. Lester.

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

Short-id: ple283


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Working Papers

2019

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

2018

  1. A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (1)
    Also in Staff Reports, Federal Reserve Bank of New York (2018) Downloads View citations (1)

    See also Journal Article in Review of Economic Dynamics (2019)
  2. Job Referrals and Skills
    2018 Meeting Papers, Society for Economic Dynamics Downloads
  3. Market-making with Search and Information Frictions
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics Downloads View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) Downloads View citations (2)
    Working Papers, Federal Reserve Bank of Philadelphia (2018) Downloads View citations (2)

2017

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

    See also Journal Article in Journal of Political Economy (2019)

2016

  1. Adverse Selection, Search Frictions and Liquidity in Financial Markets
    2016 Meeting Papers, Society for Economic Dynamics Downloads
  2. Competing with Asking Prices
    CESifo Working Paper Series, CESifo Group Munich Downloads View citations (3)
    Also in ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh (2015) Downloads View citations (2)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2014) Downloads
    IZA Discussion Papers, Institute of Labor Economics (IZA) (2013) Downloads View citations (7)
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014) Downloads
    Working Papers, University of Toronto, Department of Economics (2013) Downloads View citations (11)
    2015 Meeting Papers, Society for Economic Dynamics (2015) Downloads View citations (7)
    Working Papers, Federal Reserve Bank of Philadelphia (2013) Downloads View citations (5)

    See also Journal Article in Theoretical Economics (2017)
  3. Excess Reserves and Monetary Policy Implementation
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (5)
    See also Journal Article in Review of Economic Dynamics (2017)
  4. Excess reserves and monetary policy normalization
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (8)
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) Downloads View citations (5)
  5. INFORMATION SPILLOVERS, GAINS FROM TRADE, AND INTERVENTIONS IN FROZEN MARKETS
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (4)
    See also Journal Article in Review of Financial Studies (2016)
  6. Interviews and the Assignment of Workers to Firms
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)

2015

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

2014

  1. Competing for Order Flow in OTC Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2014) Downloads View citations (15)

    See also Journal Article in Journal of Money, Credit and Banking (2015)
  2. Competing with Asking Prices (first version)
    ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh Downloads View citations (2)
  3. Decentralized Asset Markets with a Continuum of Types
    2014 Meeting Papers, Society for Economic Dynamics Downloads
  4. Meeting Technologies and Optimal Trading Mechanisms in Competitive Search Markets
    Working Papers, University of Toronto, Department of Economics Downloads View citations (5)
    Also in ESE Discussion Papers, Edinburgh School of Economics, University of Edinburgh (2014) Downloads View citations (1)
    SIRE Discussion Papers, Scottish Institute for Research in Economics (SIRE) (2014) Downloads View citations (2)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2014) Downloads View citations (1)
    Working Papers, Federal Reserve Bank of Philadelphia (2014) Downloads View citations (1)
    2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (2)
    IZA Discussion Papers, Institute of Labor Economics (IZA) (2014) Downloads View citations (1)

    See also Journal Article in Journal of Economic Theory (2015)
  5. OTC Trading vs. Exchanges: A welfare comparison
    2014 Meeting Papers, Society for Economic Dynamics Downloads

2013

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

2012

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

2011

  1. Trading Dynamics in Decentralized Markets with Adverse Selection
    2011 Meeting Papers, Society for Economic Dynamics Downloads View citations (8)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) Downloads View citations (2)
    Working Papers, Federal Reserve Bank of Philadelphia (2011) Downloads View citations (26)

    See also Journal Article in Journal of Economic Theory (2014)

2010

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

2008

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

2006

  1. A Model of Interbank Settlement
    2006 Meeting Papers, Society for Economic Dynamics Downloads 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 Downloads 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 Downloads
  3. RED Special Issue on Fragmented Financial Markets: An Introduction
    Review of Economic Dynamics, 2019, 33, 1-3 Downloads
  4. Screening and Adverse Selection in Frictional Markets
    Journal of Political Economy, 2019, 127, (1), 338 - 377 Downloads
    See also Working Paper (2017)

2017

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

2016

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

2015

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

2014

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

2013

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

2012

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

2011

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

2010

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

2009

  1. Settlement Systems
    The B.E. Journal of Macroeconomics, 2009, 9, (1), 1-35 Downloads 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 Downloads
    See also Journal Article in Review of Economic Dynamics (2019)

2016

  1. Code and data files for "Excess Reserves and Monetary Policy Implementation"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2017)
 
Page updated 2019-10-14