Floating Rate Money? The Stability Premium in Treasury Floating Rate Notes
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We identify a significant premium in the prices of Treasury floating rate notes (FRNs) relative to both Treasury bills and notes. This premium is directly related to the near-constant nature of FRN prices and differs from the liquidity and on-the-run premia in Treasury security prices previously
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美国国家经济研究局创建时间：
2018-11-01
