| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22017 |
| 来源ID | Working Paper 22017 |
| What Makes US Government Bonds Safe Assets? | |
| Zhiguo He; Arvind Krishnamurthy; Konstantin Milbradt | |
| 发表日期 | 2016-02-29 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | US government bonds are widely considered to be the world’s safe store of value. US government bonds are a large fraction of safe asset portfolios, such as the porfolios of many central banks. The world demand for safe assets leads to low yields on US Treasury bonds. During periods of economic turmoil, such as the events of 2008, these yields fall even further. Moreover, despite the fact that US government debt has risen substantially relative to US GDP over the last decade, US government bond yields have not risen. What makes US government bonds “safe assets”? Our answer in short is that safe asset investors have nowhere else to go but invest in US government bonds. |
| 主题 | Macroeconomics ; International Economics ; International Finance ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w22017 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579691 |
| 推荐引用方式 GB/T 7714 | Zhiguo He,Arvind Krishnamurthy,Konstantin Milbradt. What Makes US Government Bonds Safe Assets?. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22017.pdf（318KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
