Optimal Taxation in Asset Markets with Adverse Selection

Mohammad Davoodalhosseini
"Consider markets for assets traded over the counter such as mortgage-backed securities and corporate bonds. Sellers in these markets may have more information on the value of their assets and their liquidity needs than buyers do. Also, sellers and buyers must search for trade partners, which is time-consuming and costly. During the 2007–09 financial crisis, activity in some of these markets declined to close to zero, and governments and central banks undertook various policies to...
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