government debt. The safest governments inefficiently restrict the amount of high quality debt that could be used as collateral …

We demonstrate the central importance of creditors' ability to use “movable” assets as collateral (as distinct from … with weak collateral laws, relative to immovable assets, and that lending is biased towards the use of immovable assets …. Using sector-level data, we find that weak movable collateral laws create distortions in the allocation of resources that …

We use an extensive data set of bilateral exposures on credit default swap (CDS) to estimate the impact on collateral … demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers … impact on collateral demand of more widespread initial margin requirements, increased novation of CDS to central clearing …

-term safe assets are money or money-like. A long-term safe asset can store value over time or be used as collateral. Human …

, we find that countries with stronger legal rights for borrowers and lenders (through collateral and bankruptcy laws …

careful examination of collateral. As this examination is more valuable when collateral backs projects with low productivity …

The banking systems of some countries export intermediation services to the rest of the world, while many other …