Papers

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Compensation in High Finance: A Theory of Periodic Labor Markets and Guaranteed Bonuses

Brian Waters , Edward Van Wesep   Dec 17,2018

Working Paper No.00048-00

We present a general equilibrium model of labor market ows that features a periodic equilibrium in which turnover is high... Read More

Size Discovery

Darrell Duffie , Haoxiang Zhu   Jul 06,2018

Working Paper No.00040-00

Size-discovery mechanisms allow large quantities of an asset to be exchanged at a price that does not respond to... Read More