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Semih Uslu

Johns Hopkins University - Carey Business School

Associate Professor of Finance

601 Pennsylvania Ave NW

Washington, DC 20004

United States

http://www.semihuslu.info

  • Johns Hopkins University - Carey Business School

SCHOLARLY PAPERS

12

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3,384

TOTAL CITATIONS
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Top 17,689

in Total Papers Citations

93

Scholarly Papers (12)

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1.

Pricing and Liquidity in Decentralized Asset Markets

Number of pages: 123 Posted: 22 Sep 2016 Last Revised: 08 Feb 2019
Semih Uslu
Johns Hopkins University - Carey Business School
Downloads 817 (75,476)
Citation 70

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Search frictions, Bargaining, Price dispersion, Financial intermediation

2.

Comparing Search and Intermediation Frictions Across Markets

Downloads 499 (143,702)
Citation 7

Comparing Search and Intermediation Frictions Across Markets

Johns Hopkins Carey Business School Research Paper 22-08
Number of pages: 76 Posted: 13 Apr 2022 Last Revised: 21 May 2025
Gabor Pinter, Semih Uslu and Jean-Charles Wijnandts
Bank of England, Johns Hopkins University - Carey Business School and Bank of England
Downloads 390 (188,145)
Citation 7

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Search Frictions, Market Power, Government Bonds, Corporate Bonds, Over-the-Counter Markets

Comparing Search and Intermediation Frictions across Markets

Bank of England Working Paper No. 974, 2022
Posted: 13 May 2022 Last Revised: 17 Jun 2025
Gabor Pinter, Semih Uslu and Jean-Charles Wijnandts
Bank of England, Johns Hopkins University - Carey Business School and Bank of England
Downloads 109 (674,237)

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Search frictions, market power, government bonds, corporate bonds, OTC markets

3.

Market Whiplash After the 2025 Tariff Shock: An Event-Targeted VAR Approach

Johns Hopkins Carey Business School Research Paper Forthcoming
Number of pages: 27 Posted: 01 Jul 2025 Last Revised: 27 Oct 2025
Gabor Pinter, Frank Smets and Semih Uslu
Bank for International Settlements (BIS), Ghent University - Department of General Economics and Johns Hopkins University - Carey Business School
Downloads 458 (159,122)

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VAR, event-study, orthogonalisation, tariff announcements

4.

Bond Supply, Yield Drifts, and Liquidity Provision Before Macroeconomic Announcements

Johns Hopkins Carey Business School Research Paper No. 24-14
Number of pages: 89 Posted: 23 Oct 2022 Last Revised: 20 Nov 2024
Dong Lou, Gabor Pinter and Semih Uslu
Hong Kong University of Science & Technology (HKUST) - Department of Finance, Bank of England and Johns Hopkins University - Carey Business School
Downloads 450 (161,218)

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Macroeconomic Announcements, Yield Drift, Bond Supply, Liquidity Provision

5.

Liquidity in the Cross Section of OTC Assets

Number of pages: 73 Posted: 10 Jul 2020 Last Revised: 07 Feb 2024
Semih Uslu and Guner Velioglu
Johns Hopkins University - Carey Business School and Koç University
Downloads 437 (169,823)
Citation 2

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OTC markets, portfolio management, search and matching, bargaining, liquidity

6.

Price Formation in Markets with Trading Delays

Downloads 342 (225,014)

Price Formation in Markets with Trading Delays

Management Science, 0[10.1287/mnsc.2020.01400]
Number of pages: 52 Posted: 18 Nov 2021 Last Revised: 27 Oct 2024
Gabor Pinter and Semih Uslu
Bank of England and Johns Hopkins University - Carey Business School
Downloads 267 (290,639)

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Trading frictions, trading delays, price informativeness, information aggregation, information acquisition, liquidity

Price formation in markets with trading delays

Bank of England Working Paper No. 1023, Management Science, 0[10.1287/mnsc.2020.01400]
Number of pages: 49 Posted: 22 Jun 2023 Last Revised: 27 Oct 2024
Gabor Pinter and Semih Uslu
Bank of England and Johns Hopkins University - Carey Business School
Downloads 75 (863,736)

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Trading frictions, trading delays, price informativeness, information aggregation, information acquisition, liquidity

7.

A Theory of Participation in OTC and Centralized Markets

Downloads 290 (262,373)

A Theory of Participation in OTC and Centralized Markets

Johns Hopkins Carey Business School Research Paper No. 19-07
Number of pages: 105 Posted: 13 Jun 2019 Last Revised: 03 Sep 2021
Jerome Dugast, Semih Uslu and Pierre-Olivier Weill
ESSEC Business School, Johns Hopkins University - Carey Business School and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 253 (298,903)

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OTC Markets, Heterogeneity, Intermediation, Composition Externalities, Government Intervention

A Theory of Participation in OTC and Centralized Markets

NBER Working Paper No. w25887
Number of pages: 45 Posted: 05 Jun 2019 Last Revised: 16 Dec 2022
Jerome Dugast, Semih Uslu and Pierre-Olivier Weill
ESSEC Business School, Johns Hopkins University - Carey Business School and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 37 (1,267,060)

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8.

The Evolution of the Corporate Bond Market: A Theoretical Analysis

FRB of Philadelphia Working Paper No. 26-27
Number of pages: 39 Posted: 22 May 2026
Mahyar Kargar, Benjamin R. Lester, Semih Uslu and Pierre-Olivier Weill
University of Illinois at Urbana-Champaign, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Johns Hopkins University - Carey Business School and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 41 (1,448,301)

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Over-the-counter markets, corporate bond market liquidity, dealer intermediation, balance sheet costs, electronic trading platforms

9.

A Search-Based Theory of Mergers and Acquisitions

IMF Working Paper No. 2025/239
Number of pages: 34 Posted: 19 Nov 2025
Flavien Moreau and Semih Uslu
International Monetary Fund (IMF) and Johns Hopkins University - Carey Business School
Downloads 31 (1,318,317)

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Search, Bargaining, Mergers & acquisitions, Market power

10.

Risk and Illiquidity Premia in the Cross Section of OTC Assets

Number of pages: 118 Posted: 18 Jul 2026
Semih Uslu and Guner Velioglu
Johns Hopkins University - Carey Business School and Koç University
Downloads 12

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OTC Markets, Portfolio Management, General Equilibrium, Search and Matching, Liquidity

11.

A Theory of Participation in OTC and Centralized Markets

CEPR Discussion Paper No. DP14258
Number of pages: 109 Posted: 14 Jan 2020 Last Revised: 22 Sep 2021
Jerome Dugast, Semih Uslu and Pierre-Olivier Weill
ESSEC Business School, Johns Hopkins University - Carey Business School and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 7 (1,566,597)
Citation 14
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12.

Bond supply, yield drifts, and liquidity provision before macroeconomic announcements

Bank of England Working Paper No. 998
Posted: 24 Jan 2023 Last Revised: 29 Oct 2024
Gabor Pinter, Semih Uslu and Dong Lou
Bank of England, Johns Hopkins University - Carey Business School and Hong Kong University of Science & Technology (HKUST) - Department of Finance

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bond supply, Macroeconomics announcements, yield drift, liquidity provision