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DESCRIPTION:Semih Uslu\n\nJohns Hopkins University \n\nLiquidity in the Cro
 ss Section of OTC Assets\n\nDate: Friday\, February 27\, 2026\n	Time: 10:30
  am - 11:45 pm\n	Location: Bronfman building\, Room 245\n\nAll are cordiall
 y invited to attend.\n\n\nAbstract\n\nWe develop a dynamic model of a mult
 i-asset over- the- counter (OTC) market that operates via search and barga
 ining and empirically test its implications regarding liquidity in the cro
 ss section of assets. The key novelty in our model is that investors can h
 old and manage portfolios of OTC-traded assets. We characterize the statio
 nary equilibrium in closed form and derive natural proxies for asset-speci
 fic measures of market liquidity including trade volume\, price dispersion
 \, and price impact. Our theoretical results uncover how the general equil
 ibrium (GE) effects shape the patterns of liquidity measures in the cross 
 section of OTC-traded assets. For example\, heightened search frictions in
  one asset trigger fire sales in other assets by increasing other assets’ 
 trade volume but also making them trade with larger price impact and price
  dispersion. Based on data from the US corporate bond market and the credi
 t default swap (CDS) market\, our empirical tests confirm these key cross-
 sectional liquidity implications of our general-equilibrium OTC framework.
 \n
DTSTART:20260227T153000Z
DTEND:20260227T164500Z
LOCATION:Room 245\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Finance Area Seminar: Semih Uslu 
URL:/desautels/channels/event/finance-area-seminar-sem
 ih-uslu-371472
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