Anadu, Kenechukwu; Azar, Pablo D.; Cipriani, Marco; … - 2023 - This version: September 2023
Stablecoins and money market funds both seek to provide investors with safe, money-like assets but are vulnerable to … flows from riskier to safer stablecoins during run periods. However, whereas in money market funds, run risk has … historically materialized only in prime funds, with stablecoins, runs occurred in different stablecoin types across the 2022 and …