Safe-Asset Shortages: Evidence from the European Government Bond Lending Market
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DOI: 10.1017/s0022109020000770
Abstract: Abstract We identify the unique role of the government bond lending market in collateral transformation during periods of market stress. Using a novel database, we provide evidence that safe assets in the lending market have… read more here.
Keywords: asset shortages; bond lending; safe asset; government bond ... See more keywords