Järvenpää, Maija; Paavola, Aleksi - 2021 - This version: February 3, 2021
collateral. However, privately provided money-like assets-like prime money market fund (MMF) shares-are prone to runs if … necessary condition for lack of run incentives. But is it a sufficient one? This paper studies the effect of the U.S. money … market fund reform of 2014-2016 on investor monitoring, money-likeness and stability of institutional prime MMFs. Using the …