Credit Risk

Download Credit Risk PDF Online Free

Author :
Publisher : Princeton University Press
ISBN 13 : 1400829178
Total Pages : 415 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!


Book Synopsis Credit Risk by : Darrell Duffie

Download or read book Credit Risk written by Darrell Duffie and published by Princeton University Press. This book was released on 2012-01-12 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, two of America's leading economists provide the first integrated treatment of the conceptual, practical, and empirical foundations for credit risk pricing and risk measurement. Masterfully applying theory to practice, Darrell Duffie and Kenneth Singleton model credit risk for the purpose of measuring portfolio risk and pricing defaultable bonds, credit derivatives, and other securities exposed to credit risk. The methodological rigor, scope, and sophistication of their state-of-the-art account is unparalleled, and its singularly in-depth treatment of pricing and credit derivatives further illuminates a problem that has drawn much attention in an era when financial institutions the world over are revising their credit management strategies. Duffie and Singleton offer critical assessments of alternative approaches to credit-risk modeling, while highlighting the strengths and weaknesses of current practice. Their approach blends in-depth discussions of the conceptual foundations of modeling with extensive analyses of the empirical properties of such credit-related time series as default probabilities, recoveries, ratings transitions, and yield spreads. Both the "structura" and "reduced-form" approaches to pricing defaultable securities are presented, and their comparative fits to historical data are assessed. The authors also provide a comprehensive treatment of the pricing of credit derivatives, including credit swaps, collateralized debt obligations, credit guarantees, lines of credit, and spread options. Not least, they describe certain enhancements to current pricing and management practices that, they argue, will better position financial institutions for future changes in the financial markets. Credit Risk is an indispensable resource for risk managers, traders or regulators dealing with financial products with a significant credit risk component, as well as for academic researchers and students.

Credit Default Swaps

Download Credit Default Swaps PDF Online Free

Author :
Publisher : Now Publishers
ISBN 13 : 9781601989000
Total Pages : 150 pages
Book Rating : 4.9/5 (89 download)

DOWNLOAD NOW!


Book Synopsis Credit Default Swaps by : Marti Subrahmanyam

Download or read book Credit Default Swaps written by Marti Subrahmanyam and published by Now Publishers. This book was released on 2014-12-19 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit Default Swaps: A Survey is the most comprehensive review of all major research domains involving credit default swaps (CDS). CDS have been growing in importance in the global financial markets. However, their role has been hotly debated, in industry and academia, particularly since the credit crisis of 2007-2009. The authors review the extant literature on CDS that has accumulated over the past two decades and divide the survey into seven topics after providing a broad overview in the introduction. The second section traces the historical development of CDS markets and provides an introduction to CDS contract definitions and conventions. The third section discusses the pricing of CDS, from the perspective of no-arbitrage principles, structural, and reduced-form credit risk models. It also summarizes the literature on the determinants of CDS spreads, with a focus on the role of fundamental credit risk factors, liquidity and counterparty risk. The fourth section discusses how the development of the CDS market has affected the characteristics of the bond and equity markets, with an emphasis on market efficiency, price discovery, information flow, and liquidity. Attention is also paid to the CDS-bond basis, the wedge between the pricing of the CDS and its reference bond, and the mispricing between the CDS and the equity market. The fifth section examines the effect of CDS trading on firms' credit and bankruptcy risk, and how it affects corporate financial policy, including bond issuance, capital structure, liquidity management, and corporate governance. The sixth section analyzes how CDS impact the economic incentives of financial intermediaries. The seventh section reviews the growing literature on sovereign CDS and highlights the major differences between the sovereign and corporate CDS markets. The eighth section discusses CDS indices, especially the role of synthetic CDS index products backed by residential mortgage-backed securities during the financial crisis. The authors close with our suggestions for promising future research directions on CDS contracts and markets.

Voluntary Debt Reduction

Download Voluntary Debt Reduction PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1451949359
Total Pages : 22 pages
Book Rating : 4.4/5 (519 download)

DOWNLOAD NOW!


Book Synopsis Voluntary Debt Reduction by : International Monetary Fund

Download or read book Voluntary Debt Reduction written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-11-07 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides empirical evidence on the determinants of long-term growth performance in a sample of 55 developing countries grouped by income levels. The evidence indicates that a model incorporating the savings rate, export performance, expenditures on human capital development, the growth of population, and the real interest rate on external debt, explains the growth performance of these countries remarkably well. The model also suggests policies that would lead to higher long-run rates of growth.

Financial Markets and the Macroeconomy

Download Financial Markets and the Macroeconomy PDF Online Free

Author :
Publisher : Routledge
ISBN 13 : 1135984506
Total Pages : 513 pages
Book Rating : 4.1/5 (359 download)

DOWNLOAD NOW!


Book Synopsis Financial Markets and the Macroeconomy by : Carl Chiarella

Download or read book Financial Markets and the Macroeconomy written by Carl Chiarella and published by Routledge. This book was released on 2009-06-02 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important new book from a group of Keynesian, but nonetheless technically-oriented economists explores one of the dominant paradigms in financial economics: the ‘intertemporal general equilibrium approach’.

The Asian Bond Markets Initiative

Download The Asian Bond Markets Initiative PDF Online Free

Author :
Publisher : Asian Development Bank
ISBN 13 : 9292578448
Total Pages : 69 pages
Book Rating : 4.2/5 (925 download)

DOWNLOAD NOW!


Book Synopsis The Asian Bond Markets Initiative by : Asian Development Bank

Download or read book The Asian Bond Markets Initiative written by Asian Development Bank and published by Asian Development Bank. This book was released on 2017-06-01 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian Bond Markets Initiative (ABMI) was launched in December 2002 by the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3 to strengthen financial stability and reduce the region’s vulnerability to the sudden reversal of capital flows. This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.

Europe's Hidden Capital Markets

Download Europe's Hidden Capital Markets PDF Online Free

Author :
Publisher : CEPS
ISBN 13 : 9290795964
Total Pages : 142 pages
Book Rating : 4.2/5 (97 download)

DOWNLOAD NOW!


Book Synopsis Europe's Hidden Capital Markets by : Jean-Pierre Casey

Download or read book Europe's Hidden Capital Markets written by Jean-Pierre Casey and published by CEPS. This book was released on 2005 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.

US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income

Download US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income PDF Online Free

Author :
Publisher :
ISBN 13 : 9788275533621
Total Pages : 0 pages
Book Rating : 4.5/5 (336 download)

DOWNLOAD NOW!


Book Synopsis US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income by : Yuliya Demyanyk

Download or read book US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income written by Yuliya Demyanyk and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Numerical Methods in Finance

Download Numerical Methods in Finance PDF Online Free

Author :
Publisher : Springer Science & Business Media
ISBN 13 : 9780387251172
Total Pages : 282 pages
Book Rating : 4.2/5 (511 download)

DOWNLOAD NOW!


Book Synopsis Numerical Methods in Finance by : Michèle Breton

Download or read book Numerical Methods in Finance written by Michèle Breton and published by Springer Science & Business Media. This book was released on 2005-05-06 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: GERAD celebrates this year its 25th anniversary. The Center was created in 1980 by a small group of professors and researchers of HEC Montreal, McGill University and of the Ecole Polytechnique de Montreal. GERAD's activities achieved sufficient scope to justify its conversion in June 1988 into a Joint Research Centre of HEC Montreal, the Ecole Polytechnique de Montreal and McGill University. In 1996, the U- versite du Quebec a Montreal joined these three institutions. GERAD has fifty members (professors), more than twenty research associates and post doctoral students and more than two hundreds master and Ph.D. students. GERAD is a multi-university center and a vital forum for the devel- ment of operations research. Its mission is defined around the following four complementarily objectives: • The original and expert contribution to all research fields in GERAD's area of expertise; • The dissemination of research results in the best scientific outlets as well as in the society in general; • The training of graduate students and post doctoral researchers; • The contribution to the economic community by solving important problems and providing transferable tools.

Determinants of Emerging Market Sovereign Bond Spreads

Download Determinants of Emerging Market Sovereign Bond Spreads PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1455252859
Total Pages : 28 pages
Book Rating : 4.4/5 (552 download)

DOWNLOAD NOW!


Book Synopsis Determinants of Emerging Market Sovereign Bond Spreads by : Iva Petrova

Download or read book Determinants of Emerging Market Sovereign Bond Spreads written by Iva Petrova and published by International Monetary Fund. This book was released on 2010-12-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the determimants of emerging market sovereign bond spreads by examining the short and long-run effects of fundamental (macroeconomic) and temporary (financial market) factors on these spreads. During the current global financial and economic crisis, sovereign bond spreads widened dramatically for both developed and emerging market economies. This deterioration has widely been attributed to rapidly growing public debts and balance sheet risks. Our results indicate that in the long run, fundamentals are significant determinants of emerging market sovereign bond spreads, while in the short run, financial volatility is a more important determinant of sperads than fundamentals indicators.

International Loans, Bonds, Guarantees, Legal Opinions

Download International Loans, Bonds, Guarantees, Legal Opinions PDF Online Free

Author :
Publisher : Sweet & Maxwell
ISBN 13 : 1847032087
Total Pages : 493 pages
Book Rating : 4.8/5 (47 download)

DOWNLOAD NOW!


Book Synopsis International Loans, Bonds, Guarantees, Legal Opinions by : Philip R. Wood

Download or read book International Loans, Bonds, Guarantees, Legal Opinions written by Philip R. Wood and published by Sweet & Maxwell. This book was released on 2007 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides coverage of syndicated bank credit agreements and loan transfers, international bond issues including equity-linked bonds, note programs and high yield notes, bondholder trustees and collective action clauses and more.

Global Waves of Debt

Download Global Waves of Debt PDF Online Free

Author :
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

DOWNLOAD NOW!


Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

The Derivatives Sourcebook

Download The Derivatives Sourcebook PDF Online Free

Author :
Publisher : Now Publishers Inc
ISBN 13 : 1933019212
Total Pages : 225 pages
Book Rating : 4.9/5 (33 download)

DOWNLOAD NOW!


Book Synopsis The Derivatives Sourcebook by : Terence Lim

Download or read book The Derivatives Sourcebook written by Terence Lim and published by Now Publishers Inc. This book was released on 2006 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Derivatives Sourcebook is a citation study and classification system that organizes the many strands of the derivatives literature and assigns each citation to a category. Over 1800 research articles are collected and organized into a simple web-based searchable database. We have also included the 1997 Nobel lectures of Robert Merton and Myron Scholes as a backdrop to this literature.

Understanding the Securitization of Subprime Mortgage Credit

Download Understanding the Securitization of Subprime Mortgage Credit PDF Online Free

Author :
Publisher : DIANE Publishing
ISBN 13 : 1437925146
Total Pages : 76 pages
Book Rating : 4.4/5 (379 download)

DOWNLOAD NOW!


Book Synopsis Understanding the Securitization of Subprime Mortgage Credit by : Adam B. Ashcraft

Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft and published by DIANE Publishing. This book was released on 2010-03 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.

Structured Credit Products

Download Structured Credit Products PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118177134
Total Pages : 628 pages
Book Rating : 4.1/5 (181 download)

DOWNLOAD NOW!


Book Synopsis Structured Credit Products by : Moorad Choudhry

Download or read book Structured Credit Products written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2011-09-20 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated coverage of structured credit products with in-depth coverage of the latest developments Structured credit products are one of today's fastest growing investment and risk management mechanisms, and a focus of innovation and creativity in the capital markets. The building blocks of these products are credit derivatives, which are among the most widely used products in finance. This book offers a succinct and focused description of the main credit derivative instruments, as well as the more complex products such as synthetic collateralized debt obligations. This new edition features updated case studies from Europe and Asia, the latest developments in synthetic structures, the impact of the subprime meltdown, along with models and teaching aids. Moorad Choudhry returns with this excellent update of the credit derivatives market. The second edition of his classic work is, like the subject matter itself, at the forefront of the financial industry. It deserves a wide readership. —Dr Didier Joannas Regional Director, Thomson Reuters, Hong Kong This is the perfect companion for both experienced and entry level professionals working in the structured credit fraternity. It is an erudite, insightful and enjoyable read that successfully demystifies one of the most topical subject areas in banking today, while also providing important practical examples that link the theory to the job itself. —Dr James Berriman Global Pricing Unit, Royal Bank of Scotland Moorad Choudhry has earned a deserved reputation from both academics and practitioners as one of the leading practical yet rigorous authors of finance books. In this Second Edition, his practical knowledge of credit derivatives keeps the audience engaged with straightforward explanations of complicated structures, and an accessible level of mathematical sophistication necessary to understand structured credit products. The author offers complete, rigorous analysis while avoiding overuse of mathematical formulas and carefully balanced practical and theoretical aspects of the subject. I strongly recommend this book for those wishing to gain an intuitive understanding of structured credit products, from practitioners to students of finance! —Mohamoud Barre Dualeh Senior Product Developer, Abu Dhabi Commercial Bank, UAE This is THE book for credit derivative trading. From first steps to advanced trading strategies, this is invaluable. Well written and insightful, perfect for ad hoc reference or reading cover to cover. —Andrew Benson ETF Market Making, KBC Peel Hunt, London Professor Choudhry has inspired me to really get into credit derivatives. It’s great to be lectured by someone with such energy and practical hands-on experience, as well as the ability to get stuck into the details. —George Whicheloe Equity-Linked Technology, Merrill Lynch, London Moorad Choudhry is Head of Treasury at Europe Arab Bank plc in London. He is a Visiting Professor at the Department of Economics at London Metropolitan University.

Corporate Bonds and Commercial Paper

Download Corporate Bonds and Commercial Paper PDF Online Free

Author :
Publisher : Global Professional Publishi
ISBN 13 : 9780852974568
Total Pages : 178 pages
Book Rating : 4.9/5 (745 download)

DOWNLOAD NOW!


Book Synopsis Corporate Bonds and Commercial Paper by : Brian Coyle

Download or read book Corporate Bonds and Commercial Paper written by Brian Coyle and published by Global Professional Publishi. This book was released on 2002 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the "Risk Management" series, this is a guide through the terminology and purpose of corporate bonds. The text describes the various markets in which securities can be issued. It also evaluates the factors influencing investment decisions that any investor may need to assess and, from the corporate perspective, how to reach a decision ......

Dynamic Models and Structural Estimation in Corporate Finance

Download Dynamic Models and Structural Estimation in Corporate Finance PDF Online Free

Author :
Publisher : Now Pub
ISBN 13 : 9781601985804
Total Pages : 174 pages
Book Rating : 4.9/5 (858 download)

DOWNLOAD NOW!


Book Synopsis Dynamic Models and Structural Estimation in Corporate Finance by : Ilya A. Strebulaev

Download or read book Dynamic Models and Structural Estimation in Corporate Finance written by Ilya A. Strebulaev and published by Now Pub. This book was released on 2012-10-02 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of this monograph are to explain the models and techniques and make it more accessible, introduce the main strands of this literature, and explain how dynamic models can be taken to the data and estimated, providing a guide to 3 methodologies: generalized method of moments, simulated method of moments, and maximum simulated likelihood.

Behavioral Corporate Finance

Download Behavioral Corporate Finance PDF Online Free

Author :
Publisher : College Ie Overruns
ISBN 13 : 9781259254864
Total Pages : 300 pages
Book Rating : 4.2/5 (548 download)

DOWNLOAD NOW!


Book Synopsis Behavioral Corporate Finance by : Hersh Shefrin

Download or read book Behavioral Corporate Finance written by Hersh Shefrin and published by College Ie Overruns. This book was released on 2017-04-16 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: