• OTC Discount 

      de Roure, Calebe; Mönch, Emanuel; Pelizzon, Loriana; Schneider, Michael (2020-12-08)
      We document a sizable OTC discount in the interdealer market for German sovereign bonds where exchange and over-the-counter trading coexist: the vast majority of OTC prices are favorable with respect to exchange quotes. ...
    • OTC Discount 

      de Roure, Calebe; Mönch, Emanuel; Pelizzon, Loriana; Schneider, Michael (2021-10-08)
      We document a sizable OTC discount in the interdealer market for German sovereign bonds where exchange and over-the-counter trading coexist: the vast majority of OTC prices are favorable compared to exchange quotes. This ...
    • P2P Lending versus Banks: Cream Skimming or Bottom Fishing? 

      de Roure, Calebe; Pelizzon, Loriana; Thakor, Anjan V. (2018-04-18)
      We derive three testable predictions from a bank-P2P lender model of competition: (i) P2P lending grows when some banks are faced with exogenously higher regulatory costs, (ii) P2P loans are riskier than bank loans; and ...
    • P2P Lending versus Banks: Cream Skimming or Bottom Fishing? 

      Pelizzon, Loriana; Thakor, Anjan; de Roure, Calebe (2021-10-08)
      We derive three testable predictions from a bank-P2P lender model of competition: (a) P2P lending grows when some banks are faced with exogenously higher regulatory costs, (b) P2P loans are riskier than bank loans, and (c) ...