Risk-sharing or risk-taking? An incentive theory of counterparty risk, clearing and margins
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- Biais, Bruno & Heider, Florian & Hoerova, Marie, 2014. "Risk-sharing or risk-taking? An incentive theory of counterparty risk, clearing and margins," IDEI Working Papers 834, Institut d'Économie Industrielle (IDEI), Toulouse.
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Cited by:
- Albert Menkveld & Emiliano Pagnotta & Marius Andrei Zoican, 2016. "Does Central Clearing Affect Price Stability? Evidence from Nordic Equity Markets," Working Papers hal-01253702, HAL.
- Agostino Capponi & W. Allen Cheng & Sriram Rajan, 2015. "Systemic Risk: The Dynamics under Central Clearing," Working Papers 15-08, Office of Financial Research, US Department of the Treasury.
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More about this item
Keywords
Hedging; Insurance; Derivatives; Moral hazard; Risk management; Counterparty risk; Contagion; Central clearing; Margin requirements;All these keywords.
JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CTA-2014-11-01 (Contract Theory and Applications)
- NEP-HRM-2014-11-01 (Human Capital and Human Resource Management)
- NEP-IAS-2014-11-01 (Insurance Economics)
- NEP-RMG-2014-11-01 (Risk Management)
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