Webbto 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 Webb30 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.
DP12086 The Private Production of Safe Assets CEPR
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 … Webb19 feb. 2024 · An influential literature in economics explores the phenomenon of “safe assets” – when participants across financial markets act “as if” certain debt is risk free – … eastern ma gmo
DISCUSSION PAPER SERIES
WebbA 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 … 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 ... Webb7 dec. 2024 · The Private Production of Safe Assets Authors: Marcin T. Kacperczyk Imperial College London Christophe Perignon Guillaume Vuillemey Request full-text … cuhk chem path