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Innovations in Derivatives Markets: Fixed Income Modeling, Valuation Adjustments, Risk Management, and Regulation

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Book Series: Springer Proceedings in Mathematics & Statistics ISSN: 2194-1009 ISBN: 9783319334455 9783319334462 Year: Volume: 165 Pages: 449 DOI: 10.1007/978-3-319-33446-2 Language: English
Publisher: Springer Nature
Subject: Mechanical Engineering --- Therapeutics --- Biotechnology --- Business and Management --- Chemical Technology
Added to DOAB on : 2017-03-08 12:08:06
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This book presents 20 peer-reviewed chapters on current aspects of derivatives markets and derivative pricing. The contributions, written by leading researchers in the field as well as experienced authors from the financial industry, present the state of the art in:• Modeling counterparty credit risk: credit valuation adjustment, debit valuation adjustment, funding valuation adjustment, and wrong way risk.• Pricing and hedging in fixed-income markets and multi-curve interest-rate modeling.• Recent developments concerning contingent convertible bonds, the measuring of basis spreads, and the modeling of implied correlations.The recent financial crisis has cast tremendous doubts on the classical view on derivative pricing. Now, counterparty credit risk and liquidity issues are integral aspects of a prudent valuation procedure and the reference interest rates are represented by a multitude of curves according to their different periods and maturities.A panel discussion included in the book (featuring Damiano Brigo, Christian Fries, John Hull, and Daniel Sommer) on the foundations of modeling and pricing in the presence of counterparty credit risk provides intriguing insights on the debate.

The Infrastructure Finance Challenge

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Book Series: Open Reports Series ISBN: 9781783742950 Year: Pages: 134 DOI: 10.11647/OBP.0106 Language: English
Publisher: Open Book Publishers
Subject: Economics
Added to DOAB on : 2017-08-22 11:01:50
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"Infrastructure and its effects on economic growth, social welfare, and sustainability receive a great deal of attention today. There is widespread agreement that infrastructure is a key dimension of global development and that its impact reaches deep into the broader economy with important and complex implications for social progress. At the same time, infrastructure finance is among the most complex and challenging areas in the global financial architecture. Ingo Walter, Professor of Finance, Corporate Governance and Ethics Emeritus at the Stern School of Business, New York University, and his team of experts tackles the issue by focussing on key findings backed by serious theoretical and empirical research. The result is a set of viable guideposts for researchers, policy-makers, students and anybody interested in the complex challenges of contemporary economy. "

Dull Disasters? How planning ahead will make a difference

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ISBN: 9780198785576 Year: Pages: 160 DOI: 10.1093/acprof:oso/9780198785576.001.0001 Language: English
Publisher: Oxford University Press Grant: World Bank Group
Subject: Economics --- Social and Public Welfare --- Social Sciences --- History --- Migration
Added to DOAB on : 2016-07-14 11:01:15
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Economic losses from disasters are now reaching an average of US$250–$300 billion a year. In the last 20 years, more than 530,000 people died as a direct result of extreme weather events; millions more were seriously injured. Most of the deaths and serious injuries were in developing countries. Meanwhile, highly infectious diseases will continue to emerge or re-emerge, and natural hazards will not disappear. But these extreme events do not need to turn into large-scale disasters. Better and faster responses are possible. The authors contend that even though there is much generosity in the world to support the responses to and recovery from natural disasters, the current funding model, based on mobilizing financial resources after disasters take place, is flawed and makes responses late, fragmented, unreliable, and poorly targeted, while providing poor incentives for preparedness or risk reduction. The way forward centres around reforming the funding model for disasters, moving towards plans with simple rules for early action and that are locked in before disasters through credible funding strategies—all while resisting the allure of post-disaster discretionary funding and the threat it poses for those seeking to ensure that disasters have a less severe impact.

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