The private production of safe assets
Webb11 juni 2024 · How fragile is the production of safe assets by the private sector? We answer this question using high-frequency data on certificates of deposit (CDs) issued in … 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 …
The private production of safe assets
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WebbA safe asset is an asset that is (almost always) valued at face value without expensive and prolonged analysis. By design, there is no benefit to producing (private) information … Webb16 jan. 2024 · The private production of safe assets is stronger for issuers with high creditworthiness, and breaks down during episodes of market stress even though the …
WebbTheprivateproductionof safeassetsisstrongerforissuerswithhighcreditworthiness,andbreaksdownduring … WebbAbstract. Using high‐frequency, granular panel data on short‐term debt securities issued in Europe, we study the existence, empirical boundaries, and fragility of private assets' …
WebbAzzimonti, 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 WebbAbstract. We show that the creation of private safe assets by shadow banks can decrease traditional banks' supply of safe assets. The 2014–2016 money fund reform created a …
Webb24 jan. 2024 · The private production of safe assets is stronger for issuers with high creditworthiness, and breaks down during episodes of market stress even though the market does not freeze. We conclude that even very short-term private assets are sensitive to changes in the information environment.
WebbUsing high‐frequency, granular panel data on short‐term debt securities issued in Europe, we study the existence, empirical boundaries, and fragility of private assets' safety. We … marriott st. louis west st. louis moWebbThe 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 … marriott stl downtownWebbto produce safe assets is determined by constraints in the financial sector, the level of financial (under-) development, the fiscal capacity of the sovereign, and the track record of the central bank for exchange rate and price stability. For these reasons, the supply of safe assets, private and public, has historically been concentrated in a marriott stock prices todayWebbTHE PRIVATE PRODUCTION OF SAFE ASSETS Abstract How fragile is the production of safe assets by the private sector? We answer this question using high-frequency data on … marriott stock yahoo financeWebbA safe asset is an asset that can be valued without expensive and prolonged analysis and is thus immune to adverse selection concerns (Gorton,2016). Safe assets, such as … marriott stock should you buyWebbSafe assets can be supplied by the government (public supply) or by the private sector (private supply), with the private production of safe assets often backed by public safe … marriott st. louis west hotelWebb10 maj 2024 · Results. Figure 2 shows the average of the estimated safety premiums across all bonds trading at each point in time. This measure of the safety premium is … marriott st. louis west