| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17777 |
| 来源ID | Working Paper 17777 |
| The Safe-Asset Share | |
| Gary B. Gorton; Stefan Lewellen; Andrew Metrick | |
| 发表日期 | 2012-01-20 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We document that the percentage of all U.S. assets that are "safe" has remained stable at about 33 percent since 1952. This stable ratio is a rare example of calm in a rapidly changing financial world. Over the same time period, the ratio of U.S. assets to GDP has increased by a factor of 2.5, and the main supplier of safe financial debt has shifted from commercial banks to the "shadow banking system." We analyze this pattern of stylized facts and offer some tentative conclusions about the composition of the safe-asset share and its role within the overall economy. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w17777 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575449 |
| 推荐引用方式 GB/T 7714 | Gary B. Gorton,Stefan Lewellen,Andrew Metrick. The Safe-Asset Share. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17777.pdf（263KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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