Working Paper
Liquidity of the Treasury bill market and the term structure of interest rates
Starr, Ross M.; Shen, Pu (1994)
Research Working Paper , Paper 94-02

Working Paper
Market makers' supply and pricing of financial market liquidity
Starr, Ross M.; Shen, Pu (2000)
This study models the bid-ask spread in financial markets as a function of asset price variability and order flow. The market-maker is characterized as passively accepting orders to buy and to sell a security at the market's prevailing price (plus or minus half the bid-ask spread). The bid-ask spread adjusts to cover market-makers' average costs. The bid-ask spread then varies positively with: the security's price volatility, the volatility of order flow, and the absolute value of the market-maker's net inventory position. Each of these variables increases average cost and hence is priced in ...
Research Working Paper , Paper RWP 00-03

Conference Paper
Variation in the maturity composition of debt and behavior of the monetary aggregates: the maturity shift hypothesis
Starr, Ross M. (1982)
Proceedings , Issue 6