Higher - quality bonds offer another advantage as well: These investments typically come with lower transaction costs, which can help manage the expenses associated with this strategy. (fidelity.com)
For developing countries, the high efficiency and extremely low transaction costs of digital currencies provide an unprecedented opportunity to develop a financial infrastructure without all of the associated political corruption. (thenextweb.com)
Perhaps things are different since 1980 such as lower transaction costs, although the book value related arguments such as Q are quite compelling. (oldprof.typepad.com)