Risk-Sharing or Risk-Taking? Counterparty Risk, Incentives, and Margins
Risk-Sharing or Risk-Taking? Counterparty Risk, Incentives, and Margins
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Publisher
Cambridge: Blackwell Publishing Ltd
Journal title
Language
English
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Publisher
Cambridge: Blackwell Publishing Ltd
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Scope and Contents
Contents
Derivatives activity, motivated by risk-sharing, can breed risk-taking. Bad news about the risk of an asset underlying a derivative increases protection sellers' expected liability and undermines their risk-prevention incentives. This limits risk-sharing, creates endogenous counterparty risk, and can lead to contagion from news about the hedged ris...
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Full title
Risk-Sharing or Risk-Taking? Counterparty Risk, Incentives, and Margins
Authors, Artists and Contributors
Author / Creator
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TN_cdi_proquest_journals_1902816362
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_1902816362
Other Identifiers
ISSN
0022-1082
E-ISSN
1540-6261
DOI
10.1111/jofi.12396
