What Makes a Safe Asset Safe?

Thomas Eisenbach and Sebastian Infante
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Sebastian Infante: https://www.federalreserve.gov/econres/sebastian-infante.htm

No 20171127, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Over the last decade, the concept of “safe assets” has received increasing attention, from regulators and private market participants, as well as researchers. This attention has led to the uncovering of some important details and nuances of what makes an asset “safe” and why it matters. In this blog post, we provide a review of the different aspects of safe assets, discuss possible reasons why they may be beneficial for investors, and give concrete examples of what these assets are in practice.

Keywords: Treasuries; safe assets; money (search for similar items in EconPapers)
JEL-codes: G1 (search for similar items in EconPapers)
Date: 2017-11-27
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