The Safe-Asset Share
By Gary B. Gorton, Stefan Lewellen, Andrew Metrick. 2012
253 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/04043067720bba7abcbab833a0c66f4cba5fe102
How researchers see this paper
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In Economics and Econometrics
- John Barrdear
- Michael Kumhof
- Luc Laeven
- Jaromı́r Beneš
- Hui Tong
- Giovanni Dell'Ariccia
- Nobuhiro Kiyotaki
- Lev Ratnovski
In Finance
- John Barrdear
- Luc Laeven
- Michael Kumhof
- Hui Tong
- Giovanni Dell'Ariccia
- Lev Ratnovski
- Jaromı́r Beneš
- Nobuhiro Kiyotaki
Citations in the corpus
- Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises (2016, background): “In particular the franchise value of a wholesale bank will be given by35 V w t nt = (1 pt)Et t+1 t R t+1 Rbt+1 ( t ) + Rbt+1 ( w t ) : (46) An increase in pt reduces the franchise value through two channels: First, it decreases the likelihood that the bank will continue to operate next period.”
- The Chicago Plan Revisited (2012, methodology): “Not for Redistribution 45 is a compromise, in that it exceeds the 100% of GDP reported for 2006 by the Federal Financial Institutions Examination Council (2007), while it is well below the almost 350% of GDP reported for safe or information-insensitive financial assets by Gorton et al. (2012).”
- Toward a Run-Free Financial System (2014, background): “For example, Gorton, Lewellen, and Metrick (2012) state "...regulators and policymakers must adroitly balance the need to improve financial stability with the simultaneous need to maintain enough liquid, safe debt in the economy to meet the demand for such debt."”
- Capital requirements, risk choice, and liquidity provision in a business-cycle model (2020, unknown): “Gorton and Pennacchi (1990), Diamond and Rajan (2001), Gorton et al.”
- The History and Economics of Safe Assets (2016, unknown): “Figure adapted with permission from Gorton et al. (2012). Abbreviations: ABS, asset-backed securities; MBS, mortgage-backed securities.”
- The Macroeconomics of Central Bank Issued Digital Currencies (2016, methodology): “Federal Financial Institutions Examination Council (2007) includes US commercial banks, US branches and agencies of foreign banks, thrift institutions, and credit unions, but it excludes the shadow banking system, while Gorton et al. (2012) include shadow banks.”
- The impact of Treasury supply on financial sector lending and stability (2015, unknown): “Our evidence is consistent with the viewpoint that the shadow banking system played an important role in the production of safe and liquid assets over the last decade (Gorton, Lewellen, and Metrick, 2012).”
- Benefits and Costs of Bank Capital (2016, background): “Empirical studies document the demand for safe and liquid assets (Gorton, Lewellen, and Metrick 2012), confirming the presence of cash investors in financial markets.5 Greenwood, Hanson, and Stein (2010) and Krishnamurthy and Vissing-Jorgensen (2012) estimate the riskadjusted premium of Treasuries…”
- Financial Regulation in a Quantitative Model of the Modern Banking System (2017, unknown): “…of these securities.9 The savings glut hypothesis articulated in Bernanke (2005) and other recent work (e.g. Caballero and Krishnamurthy (2009), Gorton, Lewellen, and Metrick (2012), and Krishnamurthy and Vissing-Jorgensen (2012)) rests on the notion that there exists a demand for safe and…”