The Microstructure of European Bond Markets : Organization, Price Formation, and Cost of Liquidity

Based on unique datasets for German federal securities, EMU government bonds and Euro corporate bonds Volker Flogel analyzes the distinctive features of multiple dealer markets in general and bond markets in particular. He focuses on the organizational structure of the market for German federal securities, the interaction between the interdealer and the customer-dealer market for EMU government bonds, and the cost of liquidity for Euro corporate bonds.