Matches in SemOpenAlex for { <https://semopenalex.org/work/W2172205139> ?p ?o ?g. }
Showing items 1 to 93 of
93
with 100 items per page.
- W2172205139 abstract "The opacity of over-the-counter (OTC) markets – in which a large number of financial products including credit derivatives trade – appears to have played a central role in the ongoing financial crisis. We model such OTC markets for risk-sharing in a general equilibrium setup where agents have incentives to default and their financial positions are not mutually observable. We show that in this setting, there is excess leverage in that parties in OTC contracts take on short positions that lead to levels of default risk that are higher than Pareto-efficient ones. In particular, OTC markets feature a counterparty risk externality that we show can lead to ex-ante productive inefficiency. This externality is absent when trading is organized via a centralized clearing mechanism that provides transparency of trade positions, or centralized counterparty such as an exchange that observes all trades and sets prices." @default.
- W2172205139 created "2016-06-24" @default.
- W2172205139 creator A5003597161 @default.
- W2172205139 creator A5050312988 @default.
- W2172205139 date "2010-01-01" @default.
- W2172205139 modified "2023-10-02" @default.
- W2172205139 title "Counterparty Risk Externality: Centralized Versus Over-The-Counter Markets" @default.
- W2172205139 cites W1484743763 @default.
- W2172205139 cites W1586217205 @default.
- W2172205139 cites W1738523054 @default.
- W2172205139 cites W1964343238 @default.
- W2172205139 cites W1980194147 @default.
- W2172205139 cites W2040731457 @default.
- W2172205139 cites W2059233588 @default.
- W2172205139 cites W2109773624 @default.
- W2172205139 cites W2111802889 @default.
- W2172205139 cites W2119464659 @default.
- W2172205139 cites W2121034459 @default.
- W2172205139 cites W2122716125 @default.
- W2172205139 cites W2156109180 @default.
- W2172205139 cites W2163164507 @default.
- W2172205139 cites W3023939287 @default.
- W2172205139 cites W3024103094 @default.
- W2172205139 cites W3121190471 @default.
- W2172205139 cites W3122573464 @default.
- W2172205139 cites W3122591973 @default.
- W2172205139 cites W3122861184 @default.
- W2172205139 cites W3123709559 @default.
- W2172205139 cites W3124125555 @default.
- W2172205139 cites W3124435939 @default.
- W2172205139 cites W3124712209 @default.
- W2172205139 cites W4232629975 @default.
- W2172205139 cites W4245013986 @default.
- W2172205139 cites W4254192478 @default.
- W2172205139 doi "https://doi.org/10.2139/ssrn.1573355" @default.
- W2172205139 hasPublicationYear "2010" @default.
- W2172205139 type Work @default.
- W2172205139 sameAs 2172205139 @default.
- W2172205139 citedByCount "25" @default.
- W2172205139 countsByYear W21722051392012 @default.
- W2172205139 countsByYear W21722051392013 @default.
- W2172205139 countsByYear W21722051392014 @default.
- W2172205139 countsByYear W21722051392015 @default.
- W2172205139 countsByYear W21722051392016 @default.
- W2172205139 countsByYear W21722051392017 @default.
- W2172205139 crossrefType "journal-article" @default.
- W2172205139 hasAuthorship W2172205139A5003597161 @default.
- W2172205139 hasAuthorship W2172205139A5050312988 @default.
- W2172205139 hasConcept C106159729 @default.
- W2172205139 hasConcept C144133560 @default.
- W2172205139 hasConcept C16118543 @default.
- W2172205139 hasConcept C162118730 @default.
- W2172205139 hasConcept C162324750 @default.
- W2172205139 hasConcept C175444787 @default.
- W2172205139 hasConcept C178350159 @default.
- W2172205139 hasConcept C2426938 @default.
- W2172205139 hasConcept C2777988657 @default.
- W2172205139 hasConcept C2779312582 @default.
- W2172205139 hasConcept C556758197 @default.
- W2172205139 hasConcept C71924100 @default.
- W2172205139 hasConcept C73283319 @default.
- W2172205139 hasConcept C98274493 @default.
- W2172205139 hasConceptScore W2172205139C106159729 @default.
- W2172205139 hasConceptScore W2172205139C144133560 @default.
- W2172205139 hasConceptScore W2172205139C16118543 @default.
- W2172205139 hasConceptScore W2172205139C162118730 @default.
- W2172205139 hasConceptScore W2172205139C162324750 @default.
- W2172205139 hasConceptScore W2172205139C175444787 @default.
- W2172205139 hasConceptScore W2172205139C178350159 @default.
- W2172205139 hasConceptScore W2172205139C2426938 @default.
- W2172205139 hasConceptScore W2172205139C2777988657 @default.
- W2172205139 hasConceptScore W2172205139C2779312582 @default.
- W2172205139 hasConceptScore W2172205139C556758197 @default.
- W2172205139 hasConceptScore W2172205139C71924100 @default.
- W2172205139 hasConceptScore W2172205139C73283319 @default.
- W2172205139 hasConceptScore W2172205139C98274493 @default.
- W2172205139 hasLocation W21722051391 @default.
- W2172205139 hasOpenAccess W2172205139 @default.
- W2172205139 hasPrimaryLocation W21722051391 @default.
- W2172205139 hasRelatedWork W2028666503 @default.
- W2172205139 hasRelatedWork W2153254687 @default.
- W2172205139 hasRelatedWork W2169268628 @default.
- W2172205139 hasRelatedWork W2347108382 @default.
- W2172205139 hasRelatedWork W2563226088 @default.
- W2172205139 hasRelatedWork W2774610372 @default.
- W2172205139 hasRelatedWork W2966874998 @default.
- W2172205139 hasRelatedWork W3082350093 @default.
- W2172205139 hasRelatedWork W3122641509 @default.
- W2172205139 hasRelatedWork W3123700113 @default.
- W2172205139 isParatext "false" @default.
- W2172205139 isRetracted "false" @default.
- W2172205139 magId "2172205139" @default.
- W2172205139 workType "article" @default.