Safe assets constitute an essential component of the contemporary, international financial system and are vital to its stability.The book will appeal to researchers, scholars and advanced students of macroeconomics, international finance and economics, investment analysis, financial economics and ec...

Ausführliche Beschreibung

Bibliographische Detailangaben

Hauptverfasser:	Bogołębska, Joanna (VerfasserIn), Feder-Sempach, Ewa (VerfasserIn, MitwirkendeR), Stawasz-Grabowska, Ewa (VerfasserIn, MitwirkendeR)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	London ; New York Routldge, Taylor & Francis Group 2025
Ausgabe:	1st ed.
Schriftenreihe:	Routledge international studies in money and banking
Schlagworte:	Internationales Währungssystem Internationaler Kreditmarkt Investitionsanalyse Finanzinstrument
Online-Zugang:	DE-188 Volltext
Zusammenfassung:	Safe assets constitute an essential component of the contemporary, international financial system and are vital to its stability.The book will appeal to researchers, scholars and advanced students of macroeconomics, international finance and economics, investment analysis, financial economics and econometrics. Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- List of Figures -- Introduction -- 1 Concept, Definitions and Functions of Safe Assets -- 1.1 The Overall Characteristics of a Safe Asset -- 1.1.1 Definitions, Key Features and Functions -- 1.1.2 The Attributes of a Safe Asset -- 1.1.3 Safe Assets as a Financial Instrument and Money -- 1.2 Safe Assets vs Safe-Haven Assets -- 1.2.1 The Characteristics of Safe Havens -- 1.2.1.1 Gold as a Safe Haven -- 1.2.1.2 Safe-Haven Currencies -- 1.2.1.3 Other Categories of Safe Havens -- 1.2.2 Safe-Haven Assets and Asset Pricing Theory -- References -- 2 The Supply of Safe Assets -- 2.1 Determining Safe Asset Supply in an International Context -- 2.1.1 Global vs Regional Providers of Safe Assets -- 2.1.2 The Exorbitant Privilege Concept -- 2.1.3 Characteristics of a Global Safe Asset Provider -- 2.2 The Structure of the Supply of Safe Assets -- 2.2.1 Safe Asset Provision from a Historical Perspective -- 2.2.2 Contemporary Tendencies in the Supply of Safe Assets -- 2.3 The Role of Debt in Safe Asset Creation -- 2.3.1 Public vs Private Debt in the Provision of Safe Assets -- 2.3.2 The Special Role of Public Debt as a Source of Safe Asset Provision -- 2.3.2.1 The Limitations of Public Debt as Safe Assets - The Laffer Curve -- 2.3.2.2 Economic and Non-economic Determinants of Public Debt Creation in the Role of Safe Assets -- References -- 3 The Demand for Safe Assets -- 3.1 Demand for Safety -- 3.1.1 Commercial Banks' Demand for Safe Assets -- 3.1.2 Motives Behind Holding Safe Assets -- 3.2 Central Banks' Demand for Safe Assets -- 3.2.1 Foreign Exchange Reserves in the Portfolios of Central Banks -- 3.2.2 Gold in Central Banks' Portfolios -- 3.2.2.1 Gold as a Component of Central Banks' Reserves -- 3.2.2.2 The Changing Sentiment of Central Banks towards Gold.
Beschreibung:	1 Online-Ressource (xii, 189 Seiten)
ISBN:	9781003376538
DOI:	10.4324/9781003376538