| Grant number: | 17/06724-1 |
| Support Opportunities: | Scholarships abroad - Research Internship - Master's degree |
| Start date: | September 01, 2017 |
| End date: | January 20, 2018 |
| Field of knowledge: | Applied Social Sciences - Economics - Fiscal and Monetary Policies |
| Principal Investigator: | Bernardo de Vasconcellos Guimaraes |
| Grantee: | Diego de Sousa Rodrigues |
| Supervisor: | Luis Fernando Oliveira de Araujo |
| Host Institution: | Escola de Economia de São Paulo (EESP). Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil |
| Institution abroad: | Michigan State University (MSU), United States |
| Associated to the scholarship: | 16/25084-0 - Understanding liquidity of asset-backed securities, BP.MS |
Abstract In the research internship at Michigan State University (MSU) we aim to study why theagents were coordinating in the use of asset-backed securities as a liquid asset insteadof using less risky one. Was the pre-crisis equilibrium undesirable, where agents werecoordinating in the use of a bad asset, or was it the case that the equilibrium was thedesirable one? Why were the agents coordinating in the use of mortgage-backed securitiesas a liquid asset instead of using a less risky asset as the US-Treasury bonds? Are themortgage-backed securities better designed to overcome frictions or there is a hidden factorthat we do not know yet? These are the main questions we are going to answer in theresearch internship. By understanding the reasons that lead individuals to coordinate inthe use of a given asset to be liquid, we will be able to provide a guide for creating saferinstruments that avoid the terrible consequences of a financial crisis but are capable to provide the liquidity necessary for the growth of the economy. (AU) | |
| News published in Agência FAPESP Newsletter about the scholarship: | |
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