Olivier Accominotti, Delio Lucena-Piquero and Stefano Ugolini on this voxeu piece assessment significance of cash markets. Informational issues on the cash market can result in credit score booms and monetary panics. This column exhibits that, throughout the first globalisation of 1880-1914, uncollateralised worldwide company money owed had been remodeled into extremely liquid and protected cash market devices by […]

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