Dealer Networks in Over-The-Counter (OTC) Financial Markets

Author

Richmond Kyei-Fordjour, CUNY Graduate CenterFollow

Date of Degree

2-2021

Document Type

Doctoral Dissertation

Degree Name

Doctor of Philosophy

Program

Economics

Advisor

Christos I. Giannikos

Committee Members

Terence Agbeyegbe

Yochanan Shachmurove

Subject Categories

Finance

Keywords

Adjacency matrix, hierarchical probability model, hamiltonian monte-carlo, information asymmetry, private information, interdealer trading network, bayesian inference, over-the-counter market

Abstract

This research studies a network of interdealer trading in Over-The-Counter (OTC) Financial Markets. It reviews a model of OTC interdealer trading, extends this model for suitable application to empirical studies of trading in dealer networks within OTC markets, and ultimately develops a methodology for estimating the endogenous network parameters. Finally, it applies the methodology to conduct an empirical study of the Municipal bonds market.

Recommended Citation

Kyei-Fordjour, Richmond, "Dealer Networks in Over-The-Counter (OTC) Financial Markets" (2021). CUNY Academic Works.
https://academicworks.cuny.edu/gc_etds/4199