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Credit Default Swaps

Mechanics and Empirical Evidence on Benefits, Costs, and Inter-Market Relations

  • Christopher L. Culp
  • Andria van der Merwe
  • Bettina J. Stärkle

Part of the Palgrave Studies in Risk and Insurance book series (PSRIIN)

Table of contents

  1. Front Matter
    Pages i-xxxvii
  2. The CDS Market and Product Mechanics

    1. Front Matter
      Pages 1-1
    2. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 3-13
    3. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 15-65
    4. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 67-83
    5. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 85-97
    6. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 99-124
    7. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 125-138
  3. Potential Benefits and Costs of CDSs

    1. Front Matter
      Pages 139-139
    2. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 141-145
    3. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 147-154
  4. Empirical Evidence on the Benefits, Costs, and Inter-Market Relations of CDSs

    1. Front Matter
      Pages 155-155
    2. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 157-192
    3. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 193-217
    4. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 219-248
    5. Christopher L. Culp, Andria van der Merwe, Bettina J. Stärkle
      Pages 249-270
  5. Back Matter
    Pages 271-331

About this book

Introduction

This book, unique in its composition, reviews the academic empirical literature on how CDSs actually work in practice, including during distressed times of market crises. It also discusses the mechanics of single-name and index CDSs, the theoretical costs and benefits of CDSs, as well as comprehensively summarizes the empirical evidence on important aspects of these instruments of risk transfer. Full-time academics, researchers at financial institutions, and students will benefit from the dispassionate and comprehensive summary of the academic literature; they can read this book instead of identifying, collecting, and reading the hundreds of academic articles on the important subject of credit risk transfer using derivatives and benefit from the synthesis of the literature provided.

Keywords

Credit Default Swaps CDS asset-backed securities market crisis credit risk transfer index products indices loans

Authors and affiliations

  • Christopher L. Culp
    • 1
  • Andria van der Merwe
    • 2
  • Bettina J. Stärkle
    • 3
  1. 1.Johns Hopkins UniversityBaltimoreUSA
  2. 2.Johns Hopkins UniversityBaltimoreUSA
  3. 3.Compass LexeconChicagoUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-93076-3
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-93075-6
  • Online ISBN 978-3-319-93076-3
  • Series Print ISSN 2523-8221
  • Series Online ISSN 2523-823X
  • Buy this book on publisher's site
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