Regulation and Market Liquidity
---- Acknowledgments ----
The authors would like to thank Daron Acemoglu, Paul Beaudry, Matilde Bombardini, Andrea Frazzini for their comments and suggestions. Nathan Canen provided excellent research assistance. Francesco Trebbi gratefully acknowledges support by the Canadian Institute For Advanced Research and the Social Sciences and Humanities Research Council of Canada. Part of this research was written while Trebbi was visiting the Bank of Canada Financial Stability Department, whose hospitality is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.