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Replication data for: The Role of Trading Frictions in Real Asset Markets

Version
V0
Resource Type
Dataset
Creator
  • Gavazza, Alessandro
Publication Date
2011-06-01
Description
  • Abstract

    This paper investigates how trading frictions vary with the thickness of the asset market by examining patterns of asset allocations and prices in commercial aircraft markets. The empirical analysis indicates that assets with a thinner market are less liquid — i.e., more difficult to sell. Thus, firms hold on longer to them amid profitability shocks. Hence, when markets for assets are thin, firms' average productivity and capacity utilization are lower, and the dispersions of productivity and of capacity utilization are higher. In turn, prices of assets with a thin market are lower and have a higher dispersion. (JEL A12, L11, L93)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.101.4.1106 (Text)
Publications
  • Gavazza, Alessandro. “The Role of Trading Frictions in Real Asset Markets.” American Economic Review 101, no. 4 (June 2011): 1106–43. https://doi.org/10.1257/aer.101.4.1106.
    • ID: 10.1257/aer.101.4.1106 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-11

Gavazza, Alessandro (2011): Replication data for: The Role of Trading Frictions in Real Asset Markets. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112426