An Empirical Equilibrium Model of a Decentralized Asset Market

Alessandro Gavazza

No 379, 2010 Meeting Papers from Society for Economic Dynamics

Abstract: I construct and estimate a search-and-bargaining model of a decentralized market to quantify the effects of trading frictions on asset allocations and asset prices, and to quantify the effects of intermediaries that facilitate trade. Using U.S. business aircraft data, I find that trading frictions generate moderate inefficiencies in this market, and dealers play an important role in reducing frictions.

Date: 2010
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Related works:
Journal Article: An Empirical Equilibrium Model of a Decentralized Asset Market (2016)
Working Paper: An empirical equilibrium model of a decentralized asset market (2016)
Working Paper: An Empirical Equilibrium Model of a Decentralized Asset Market (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed010:379

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