60 – Matt Klein on Greece, Optimal Currency Areas, and Safe Assets
Macro Musings with David Beckworth
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The Importance of Safe Assets
Beck Bennett: What counts as safe and was capable of making something safe? Bennett: At a very basic level, the safe stuff should be things that you can actually count on when you need it. He says private financial sector creates things that are mostly safe as substitutes for genuinely safe stuff provided by government.ennett: I don't think there's like a huge distance between us in terms of how we know about safe assets.
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