Inflation and Treasury Convenience
收藏NBER2024-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w32881
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资源简介：
We document that U.S. Treasury convenience moved positively with inflation during the inflationary second half of the 20th century but not before WWII or after 2000. A macro-asset pricing model explains this shift through two channels. Inflationary supply shocks raise the opportunity cost of holding
提供机构：
美国国家经济研究局
创建时间：
2024-09-01
