International Macro Economics and Finance
Finance This short, concrete, and to – the – point book guides students through this vast field of conflicting opinions. The book begin s from the premise that students benefit most from seeing a balanced treatment of all available views. For instance, this book provides coverage of both ad hoc and optimiz ing models. It […]
Managing Credit Risk With Credit And Macro Derivatives
We use the industrial organization approach to the microeconomics of banking, augmented by uncertainty and risk aversion, to examine credit derivatives and macro derivatives as instruments to hedge credit risk for a large commercial bank. In a partial-analytic framework we distinguish between the probability of default and the loss given default, model different forms of […]