Illiquidity in sovereign debt markets

Continuous Auctions and Insider Trading

Albert S. Kyle · Econometrica · 1985 · 9.8K citations

Market Microstructure, Electronic Auction, Financial Economics +6

Bid, ask and transaction prices in a specialist market with heterogeneously informed traders

Lawrence R. Glosten, Paul Milgrom · Journal of Financial Economics · 1985 · 6.3K citations

Market Microstructure, Economics, Financial Economics +9

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

John Y. Campbell, Robert J. Shiller · Review of Financial Studies · 1988 · 3.9K citations

Empirical Finance, Expectation Formation, Economics +12

Debt with Potential Repudiation: Theoretical and Empirical Analysis

Jonathan Eaton, Mark Gersovitz · The Review of Economic Studies · 1981 · 2.6K citations

Economics, Public Finance, Debt Management +14

Optimal Capital Structure, Endogenous Bankruptcy, and the Term Structure of Credit Spreads

Hayne E. Leland, Klaus Bjerre Toft · The Journal of Finance · 1996 · 2K citations

Credit Spreads, Financial Risk, Term Structure +19