Endogenous Liquidity in Asset Markets

The Market for "Lemons": Quality Uncertainty and the Market Mechanism

1970 • 21,732 citations

Corporate financing and investment decisions when firms have information that investors do not have

1984 • 18,167 citations

Credit Rationing in Markets with Imperfect Information.

1981 • 12,689 citations

Continuous Auctions and Insider Trading

1985 • 9,651 citations

Bank Runs, Deposit Insurance, and Liquidity

1983 • 8,993 citations

Bid, ask and transaction prices in a specialist market with heterogeneously informed traders

1985 • 6,148 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

Recursive Methods in Economic Dynamics

1989 • 3,199 citations

The Financial Accelerator in a Quantitative Business Cycle Framework

1998 • 2,750 citations

Liquidation Values and Debt Capacity: A Market Equilibrium Approach

1992 • 2,708 citations

The Financial Accelerator and the Flight to Quality

1996 • 2,364 citations

Recursive Macroeconomic Theory

2000 • 1,834 citations

Private and Public Supply of Liquidity

1998 • 1,806 citations

Saving and Liquidity Constraints

1991 • 1,535 citations

Market Liquidity and Trading Activity

2001 • 1,446 citations

Capital Market Equilibrium with Transaction Costs

1986 • 1,172 citations

Layoffs and Lemons

1991 • 835 citations

A Liquidity-based Model of Security Design

1999 • 773 citations

Do Asset Fire Sales Exist? An Empirical Investigation of Commercial Aircraft Transactions

1998 • 701 citations

Equity Issues and Stock Price Dynamics

1990 • 695 citations

Transaction Costs and Asset Prices: A Dynamic Equilibrium model

1998 • 472 citations

SYSTEMATIC LIQUIDITY

2001 • 385 citations

Optimal Design of Securities under Asymmetric Information

1994 • 384 citations

LAPM: A Liquidity‐Based Asset Pricing Model

2001 • 349 citations

Asset returns with transactions costs and uninsured individual risk

1991 • 342 citations

Adverse Selection in Durable Goods Markets

1999 • 263 citations

Liquidity, Banks, and Markets

1997 • 255 citations

Liquidity shocks and equilibrium liquidity premia

2003 • 212 citations

Equity Issues with Time-Varying Asymmetric Information

1992 • 205 citations

Financial Intermediation and Regime Switching in Business Cycles

2016 • 163 citations

Growth Opportunities and the Stock Price Response to New Financing

1992 • 158 citations

Modeling Aggregate Liquidity

1996 • 76 citations

Liquidity Risk and Expected Stock Returns

2001 • 71 citations

Endogenous Liquidity in Asset Markets

2002 • 61 citations

Bank Financing and Investment Decisions with Asymmetric Information about Loan Quality

1992 • 61 citations

Smoothing with Liquid and Illiquid Assets

2003 • 5 citations