Enrico Perotti - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T11:16:08+00:00Seeking Safety
https://www.bankofcanada.ca/2018/08/staff-working-paper-2018-41/
The scale of safe assets suggests a structural demand for a safe wealth share beyond transaction and liquidity roles. We study how investors achieve a reference wealth level by combining self-insurance and contingent liquidation of investment. Intermediaries improve upon autarky, insuring investors with poor self-insurance and limiting liquidation.2018-08-27T06:00:03+00:00enSeeking Safety2018-08-27Financial institutionsStaff Working Paper 2018-41https://www.bankofcanada.ca/wp-content/uploads/2018/08/swp2018-41.pdfSeeking SafetyToni AhnertEnrico PerottiAugust 2018GG2