Larry Harris is the Fred V. Keenan Chair in Finance at the Marshall School of Business, University of Southern California. Much of this research was conducted while he was Chief Economist of the U.S. Securities and Exchange Commission. Mike Piwowar is a Financial Economist in the SEC Office of Economic Analysis. We thank the anonymous referee, Vance Anthony, Bill Dale, Amy Edwards, Clifton Green, Martha Haines, Hal Johnson, Larry Lawrence, Janice Mitnick, Art Warga, and Mark Zehner for their suggestions and assistance with this project. We also thank seminar participants at the SEC, the University of Maryland, the University of Southern California, Emory University, and Arizona State University and conference participants at the Bank of Canada Workshop on Regulation, Transparency and the Quality of Fixed Income Markets, the Vanderbilt University FMRC Conference on Exchange Governance and Securities Market Structure, and the Q Group Fall 2004 Research Seminar. The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. The views expressed herein are those of the authors and do not necessarily reflect the views of the Commission or of the authors' colleagues upon the staff of the Commission. All errors and omissions are the sole responsibility of the authors.
Secondary Trading Costs in the Municipal Bond Market
Version of Record online: 16 MAY 2006
© 2006 the American Finance Association
The Journal of Finance
Volume 61, Issue 3, pages 1361–1397, June 2006
How to Cite
HARRIS, L. E. and PIWOWAR, M. S. (2006), Secondary Trading Costs in the Municipal Bond Market. The Journal of Finance, 61: 1361–1397. doi: 10.1111/j.1540-6261.2006.00875.x
- Issue online: 16 MAY 2006
- Version of Record online: 16 MAY 2006
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