The Optimal Public and Private Provision of Safe Assets
NBER Working Paper No. 24534
---- Acknowledgments ----
This paper was prepared for the 91st meeting of the Carnegie-Rochester-NYU Conference on Public Policy which honored the contributions of Charles Plosser to economics. We are especially grateful to Narayana Kocherlakota for initial discussions which inspired this project. We would like to thank Yongsung Chang, Fatih Guvenen, Chris Moser, Sevin Yeltekin, and seminar audiences at Carnegie- Rochester-NYU conference, Columbia, New York Fed, SED meeting, and NBER for comments. We thank Saki Bigio for a valuable discussion of the paper. Jay Hyun provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.