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- Safe Asset Scarcity and Aggregate Demand
In a nutshell, in our model the safe-asset mar-ket equilibrium supplements the IS relationship and the Taylor Rule, to endogenously determine output, the interest rate, and the risk premium A drop in the supply of safe assets reduces out-put and increases the risk premium
- The Fed - The Stability of Safe Asset Production
A safe asset is a debt instrument that is expected to maintain its value over time, especially during adverse systemic events Changes in the supply of safe assets can have a significant influence on short-term, risk-free interest rates
- Demand for Sovereign Safe Assets - imfconnect. org
ative shift in fundamentals of the safe asset increases its price and the risk premium When government bond is a safe asset, it can have an upward-sloping demand curve for interme-diate levels of borrowing This happens because more borrowing increases aggregate risk and demand for safety, while government bond remains the relatively safer asset
- The shortage of safe assets in the US investment portfolio . . .
In this paper we investigate the international consequences of the shortage in US safe assets By adopting an empirical macroeconomic framework, that jointly models a large set of economies under consideration, we explore the international transmission of supply and demand shocks to US safe assets
- Analysis: Demand and Supply of Safe Assets in the Economy
As prices rise, the supply of safe assets, asset where supply is defined by the price of safe assets times the quantity of securities, should increase The lowering of rates and corresponding increases in prices should bolster the solvency of governments and other issuers, thereby lowering the risk of securities issued and allowing them to
- SAFE ASSET SCARCITY AND AGGREGATE DEMAND NATIONAL BUREAU OF . . .
A drop in the supply of safe assets reduces output and increases the risk premium The central bank can o set the output reduction by lowering interest rates within a range When the scarcity of safe asset is acute, the Zero Lower Bound (ZLB) becomes binding and
- The Safe Assets Shortage Conundrum - Scholars at Harvard
Simultaneously, we observed a surge in cross-border purchases of safe assets by safe asset demanders— many of them located in emerging economies—from safe asset producers, mostly the United States
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