Decoupling Dollar and Treasury Privilege
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We document a strong decoupling between the convenience yield on the U.S. dollar and U.S. Treasuries. We measure the convenience of the U.S. dollar using covered interest parity (CIP) deviations between risk-free bank rates, such as secured overnight rates since the benchmark reform. In parallel, we
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美国国家经济研究局创建时间：
2026-03-01
