The Optimal Public and Private Provision of Safe Assets
收藏NBER2018-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24534
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资源简介：
We develop a theory of optimal government debt in which publicly-issued and privately-issued safe assets are substitutes. While government bonds are backed by future tax revenues, privately-issued safe assets are backed by the future repayment of pools of defaultable private loans. We find that a
提供机构：
美国国家经济研究局
创建时间：
2018-04-01
