We document the consequences of money market fund risk taking during the European sovereign debt crisis. Using a novel …

) during the financial crisis. Many observers have argued that the fall in prices was partly driven by decreased liquidity and … at much lower prices than other insurance companies during the crisis …

find that the abnormal cash holdings of U.S. firms after the crisis represent on average 1.86% of assets. While U.S. firms … domestic firms after the crisis. Further, U.S. multinationals increased their cash holdings since the late 1990s relative to …, regulation, or poor governance can explain the abnormal cash holdings of U.S. firms after the crisis …