The private production of safe assets
WebbThe private production of safe assets is stronger for issuers with high credit worthiness, and breaks down during episodes of market stress. We conclude that even very short … WebbThe Private Production of Safe Assets Cahier de Recherche du Groupe HEC , 2024 Scientific articles. The Private Production of Safe Assets Journal of Finance (The), April 2024, vol. 76, n° 2, pp 495-535, (in coll. with M ...
The private production of safe assets
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WebbGorton and Ordonez (2013) show that the production of safe assets by the government (i.e., government debt) provides large incentives for the private sector to produce information about the quality of collateral, while Krishnamurthy and Vissing-Jorgenson (201 2show that changes in the supply of safe assets have large effects on the yields ) WebbThe private production of safe assets is stronger for issuers with high credit worthiness, and breaks down during episodes of market stress. We conclude that even very short …
Webb11 mars 2024 · The key here is that the global economy would no longer rely as much on the production of safe assets by governments. Because bitcoin is not debt-based like government bonds or bank deposits, it is not constrained by interest rates falling to the zero lower bound. WebbThe private production of safe assets: Authors: Kacperczyk, MT Perignon, C Vuillemey, G: Item Type: Journal Article: Abstract: Using high-frequency, granular panel data on short …
Webbsafe assets. Post-crisis regulatory reforms have further raised the demand for high-quality collateral (Fender and Lewrick,2013;Du e, Scheicher and Vuillemey,2015). Di erent … Webbit with a policy regime that makes those assets credibly safe. Claims on the private sector are inherently risky and should stay so to limit moral hazard: for this reason they may not …
WebbAmerican Economic Association
http://kacperczyk.net/uploads/3/4/9/6/34969133/safe_kpv.pdf hilda earlyWebb30 okt. 2024 · The private production of safe assets is stronger for issuers with high credit worthiness, and breaks down during episodes of market stress. We conclude that even very short-term private assets are sensitive to changes in the information environment and should not be treated as equally safe at all times. hilda edwardsWebb9 nov. 2024 · The supply of safe assets has been concentrated in a small number of advanced economies: Germany, France, the United Kingdom, but most prominently by the United States. Despite their growing public sector deficits in these countries, the supply has not kept pace with the global demand in the past decade. smallville blue wikiWebbof safe assets comes from two sources: public and private. Public safe assets are gov-ernment bonds, promises that the government can make by relying on its taxation … hilda efromovichWebbthat the net supply of sovereign safe assets available to the private sector in secondary markets is an important driver of neutral rates for 11 advanced economies in the period 1970{2024. ... term equilibrium interest rate in safe-asset-producing economies (as emphasized also by Bernanke(2005);Bernanke et al.(2011)).Caballero and Farhi(2024) ... hilda elizabeth annie smallWebbAzzimonti, M., & Yared, P. (2024). The optimal public and private provision of safe assets. Journal of Monetary Economics. doi:10.1016/j.jmoneco.2024.01.012 hilda emerson obituaryWebbThe Private Production of Safe Assets. Christophe Perignon (), Guillaume Vuillemey and Marcin Kacperczyk. No 1212, HEC Research Papers Series from HEC Paris Abstract: Do … smallville blow away clouds