The History and Economics of Safe Assets
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https://www.nber.org/papers/w22210
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Safe assets play a critical role in an(y) economy. A safe asset is an asset that is (almost always) valued at face value without expensive and prolonged analysis. That is, by design there is no benefit to producing (private) information about its value. And this is common knowledge. Consequently,
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美国国家经济研究局创建时间：
2016-05-01
