Flight-to-Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis

Nico Oefele; Dirk G. Baur; Lee A. Smales

doi:10.1016/j.econlet.2023.111464

Flight-to-Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis

Nico Oefele, Dirk G. Baur, Lee A. Smales

Research output: Contribution to journal › Article › peer-review

5 Citations (Scopus)

Abstract

The March 2023 banking crisis prompted a flight-to-quality, with inflows into money market mutual funds and outflows from stablecoins. Similar flows from riskier to safer categories within both asset classes highlight the important role of reserve assets and issuer size.

Original language	English
Article number	111464
Journal	Economics Letters
Volume	234
Early online date	21 Nov 2023
DOIs	https://doi.org/10.1016/j.econlet.2023.111464
Publication status	Published - Jan 2024

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10.1016/j.econlet.2023.111464Licence: CC BY

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title = "Flight-to-Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis",

abstract = "The March 2023 banking crisis prompted a flight-to-quality, with inflows into money market mutual funds and outflows from stablecoins. Similar flows from riskier to safer categories within both asset classes highlight the important role of reserve assets and issuer size.",

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author = "Nico Oefele and Baur, {Dirk G.} and Smales, {Lee A.}",

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AB - The March 2023 banking crisis prompted a flight-to-quality, with inflows into money market mutual funds and outflows from stablecoins. Similar flows from riskier to safer categories within both asset classes highlight the important role of reserve assets and issuer size.

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KW - flight-to-quality

KW - Silicon Valley Bank

U2 - 10.1016/j.econlet.2023.111464

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JO - Economics Letters

JF - Economics Letters

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Flight-to-Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis

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