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

1 September 14, 2013 CNBC ![CNBC logo](/sites/default/files/styles/246w/public/assets/images/con_034412.gif?itok=MRidxYS3)>

Excerpt from [CNBC](http://www.cnbc.com/id/101033448) -- "'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](http://w4.stern.nyu.edu/faculty/bio/marcin-kacperczyk) and [Philipp Schnabl](http://www.stern.nyu.edu/faculty/bio/philipp-schnabl) said in a money market stability study for the Stern School of Business at New York University."

[Read more](http://www.cnbc.com/id/101033448)