Adverse Selection Dynamics in Privately-Produced Safe Debt Markets
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下载链接：
https://www.nber.org/papers/w28016
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资源简介：
Privately-produced safe debt is designed so that there is no adverse selection in trade. This is because no agent finds it profitable to produce private information about the debts backing and all agents know this (i.e., it is information-insensitive). But in some macro states, it becomes profitable
提供机构：
美国国家经济研究局
创建时间：
2020-11-01
