situation, the debt chain is hard to maintain in some circumstances. In the limited-commitment situation, even if safe asset … issuance is a reflection of a country's financial power, because China's safe asset issued to Russia is denoted by USD, whether …

securitisation: at a time of a global safe asset shortage, it falls on the shadow banking system to help make good that shortage by … manufacturing extra quantities of asset backed securities. When these quantities cannot keep up with volume of safe asset demand … understanding of the contemporary socioeconomic circumstances that continue to cause a global safe asset shortage. This paper …

arbitrage or safe asset demand. New research on the European banks' role in the crisis may finally help to resolve the issue … evidence surrounding the European banks' role in the financial crisis gives greater weight to the safe asset demand explanation …