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"The most important friction studied in the microstructure literature is the adverse selection borne by liquidity providers when facing traders who are better informed, and the bid-ask spread quoted by market makers is one of these frictions in securities markets that has been extensively studied. ..." – By Mahendrarajah Nimalendran and Giovanni Petrella
"Between 2003 and 2016, China experienced an unprecedented housing boom amid a long period of spectacular economic growth. The corresponding sharp rise of house prices and soaring housing-related debt raised widespread concerns about the possibility of real estate bubbles forming and the potential macroeconomic consequences of a housing bust. ..." – By Kaiji Chen
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