Flight-to-quality—Money market mutual funds and stablecoins during the March 2023 banking crisis

Nico Oefele, Dirk G. Baur and Lee Smales

Economics Letters, 2024, vol. 234, issue C

Abstract: The March 2023 banking crisis prompted a flight-to-quality, with inflows into money market mutual funds and outflows from stablecoins. Similar flows from riskier to safer categories within both asset classes highlight the important role of reserve assets and issuer size.

Keywords: Silicon valley bank; Signature bank; Flight-to-quality; Money market mutual fund; Stablecoin (search for similar items in EconPapers)
JEL-codes: E44 G1 G23 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:234:y:2024:i:c:s0165176523004901

DOI: 10.1016/j.econlet.2023.111464

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