{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/126960"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/126960","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"Estimating demand for liquid assets","abstract":"This paper proposes a simple structural model to study substitution patterns within the class of safe and liquid assets at the extreme short-end of the yield curve (maturity <1YR). I estimate the demand system by exploiting plausibly exogenous variation in safe asset issuance due to regulatory requirements (''window dressing\"). 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