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Research in the News

Profs. Marcin Kacperczyk and Philipp Schnabl's research on money market stability

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Excerpt from CNBC -- "'Money market funds lack safety relative to other safe instruments, such as bank deposits or Treasury bills, because they have strong incentives to take on risk when the opportunity arises but they are vulnerable to runs once the risk materializes,' Marcin Kacperczyk and Philipp Schnabl said in a money market stability study for the Stern School of Business at New York University."

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