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1 posts on "Money Market Fund Reform"
July 18, 2018

The Premium for Money‑Like Assets

Marco Cipriani and Gabriele La Spada

Several academic papers have documented investors’ willingness to pay a premium to hold money-like assets and focused on its implication for financial stability. In a New York Fed staff report, we estimate such premium using a quasi-natural experiment, the recent reform of the money market fund (MMF) industry by the Securities and Exchange Commission (SEC).

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Posted at 7:00 am in Financial Intermediation, Financial Markets, Regulation | Permalink | Comments (1)

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