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| 01779nam 2200301za 4500 |
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| 001 | 9.862203 |
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| 003 | CaOODSP |
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| 005 | 20221107160944 |
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| 007 | cr ||||||||||| |
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| 008 | 180920s2018 oncd ob f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 086 | 1 |aFB3-5/2018-41E-PDF |
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| 100 | 1 |aAhnert, Toni. |
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| 245 | 10|aSeeking safety |h[electronic resource] / |cby Toni Ahnert and Enrico Perotti. |
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| 260 | |a[Ottawa] : |bBank of Canada, |c2018. |
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| 300 | |aii, 40 p. : |bcol. charts. |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-41 |
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| 500 | |a"August 2018." |
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| 504 | |aIncludes bibliographical references (p. 26-28). |
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| 520 | 3 |a"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. However, delegation creates a conflict in states with residual risk. Demandable debt ensures safety-seeking investors can withdraw to implement a safe outcome, so private safety provision is fragile. Public debt crowds out private credit supply and investment, while deposit insurance crowds them in by reducing liquidation in residual risk states"--Abstract, p. ii. |
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| 546 | |aIncludes abstract in French. |
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| 693 | 4|aInvestments |
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| 693 | 4|aFinancial risk |
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| 700 | 1 |aPerotti, Enrico. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-41.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s648 KB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-41-eng.pdf |
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