The microstructure of the bond market in the 20th century
Bonds are traded in opaque and fragmented over-the-counter markets. Is there something special about bonds precluding transparent limit-order markets? Historical experience suggests this is not the case. Before WWII, there was an active market in corporate and municipal bonds on the NYSE. Activity d...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Academic Press Inc.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |