to a steady-state decrease of about 3 percent in the amount of loans made, an increase in banks' holdings of securities … of at least 6 percent, a fall in the interest rate on securities of a few basis points, and a decline in output of about … 0.3 percent. Our results are sensitive to the supply of safe assets: the larger the supply of such securities, the …

registration with the Securities and Exchange Commission by virtue of being issued in transactions "not involving any public … and assist in distributing securities. ; Finally, the study analyzes some recent occurrences affecting the market …, including a credit crunch in the below-investment-grade segment, the adoption of Rule 144A by the Securities and Exchange …

This paper reports monthly estimates of U.S. cross-border securities positions obtained by combining the (now) annual …

, what approach can? This paper develops a new structural approach to valuing default-risky securities by modeling the …