{"title":"Benjamin Lester","description":"\u003cp\u003eBenjamin Lester's works delve into the complexities of financial markets with clarity and insight. His writing offers a detailed examination of market structures, focusing on the intricacies of over-the-counter trading and its impact on global finance.\u003c\/p\u003e\n\n\u003cp\u003eReaders interested in the mechanisms behind investment environments will find Lester’s analysis both rigorous and accessible, providing valuable perspectives for those seeking to understand finance beyond surface-level concepts.\u003c\/p\u003e","products":[{"product_id":"the-economics-of-over-the-counter-markets-by-julien-hugonnier-9780691236285","title":"The Economics of Over-the-Counter Markets","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003e\u003cstrong\u003eAn essential primer on an important yet understudied type of financial market\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003eMany of the largest financial markets in the world do not organise trade through an exchange but rather operate within a decentralised or over-the-counter (OTC) structure. Understanding how these markets work has become increasingly important in recent years, as illiquidity in certain OTC markets has appeared as the first signs of trouble—if not the cause itself—of the past two financial crises. However, standard models of financial markets are not suitable for studying the causes of illiquidity in OTC markets, nor the optimal policy response. \u003cem\u003eThe Economics of Over-the-Counter Markets\u003c\/em\u003e proposes a unified search-theoretic framework designed to explicitly capture the key features of OTC markets, confront the growing set of stylised facts from these markets, and provide guidance for policies designed to promote liquidity and resiliency.\u003c\/p\u003e\n\n\u003cp\u003eThis incisive book covers empirical regularities that are common across OTC markets, develops the methodological tools to analyse the benchmark theoretical models in the academic literature, and extends these models to confront the latest issues facing these markets.\u003c\/p\u003e\n\n\u003cul\u003e\n  \u003cli\u003eCovers a broad range of topics, including asset pricing, liquidity, transaction costs, asymmetric information, financial crises, and market design.\u003c\/li\u003e\n  \u003cli\u003eAn ideal textbook for graduate students in economics and finance.\u003c\/li\u003e\n  \u003cli\u003eAn invaluable resource for policymakers seeking a framework to assess the impact of new developments in fixed-income and short-term funding markets.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e","brand":"Hachette Aotearoa New Zealand","offers":[{"title":"Default Title","offer_id":47464315814124,"sku":"9780691236285","price":105.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691236285-the-economics-of-over-the-counter-markets.jpg?v=1775046828"}],"url":"https:\/\/bookhero.co.nz\/collections\/benjamin-lester.oembed","provider":"Book Hero","version":"1.0","type":"link"}