Working Paper
The Demand for Short-Term, Safe Assets and Financial Stability: Some Evidence and Implications for Central Bank Policies
Carlson, Mark A.; Nelson, William R.; Van den Heuvel, Skander J.; Stein, Jerome L.; Duygan-Bump, Burcu; Ochoa, Marcelo; Natalucci, Fabio M. (2014-11-25)
A number of researchers have recently argued that the growth of the shadow banking system in the years preceding the recent U.S. financial crisis was driven by rising demand for "money-like" claims--short-term, safe instruments (STSI)--from institutional investors and nonfinancial firms. These instruments carry a money premium that lowers their yields. While government securities are an important part of the supply of STSI, financial intermediaries also take advantage of this money premium when they issue certain types of low-risk, short-term debt, such as asset-backed commercial paper or ...
Finance and Economics Discussion Series , Paper 2014-102

Conference Paper
Can the central bank achieve price stability?
Stein, Jerome L. (1994-03)
Proceedings , Issue Mar , Pages 175-203

Journal Article
Can the central bank achieve price stability?
Stein, Jerome L. (1994-03)
Review , Issue Mar , Pages 175-203