Matches in SemOpenAlex for { <https://semopenalex.org/work/W2551778987> ?p ?o ?g. }
Showing items 1 to 68 of
68
with 100 items per page.
- W2551778987 abstract "We provide the first empirical description of the failure of a derivatives clearinghouse. We use novel, hand-collected, archive data to study risk management incentives by the Paris commodity futures clearinghouse around its failure in 1974. We do not find evidence of lenient risk management during the commodity price boom of 1973-1974. However, we show strong distortions of risk management incentives, akin to risk-shifting, as soon as prices collapsed and a large clearing member approached distress. Distortions persist during the recovery/resolution phase. Theoretically, these distortions suggest that capitalization and governance were weak, but do not imply that moral hazard was significant before the failure. Our findings have implications for the design of clearing institutions, including their default management schemes." @default.
- W2551778987 created "2016-11-30" @default.
- W2551778987 creator A5057653030 @default.
- W2551778987 creator A5058822367 @default.
- W2551778987 date "2016-01-01" @default.
- W2551778987 modified "2023-09-23" @default.
- W2551778987 title "The Failure of a Clearinghouse: Empirical Evidence" @default.
- W2551778987 cites W2023325908 @default.
- W2551778987 cites W2071715957 @default.
- W2551778987 cites W2082697576 @default.
- W2551778987 cites W2113201555 @default.
- W2551778987 cites W2120810040 @default.
- W2551778987 cites W2165372307 @default.
- W2551778987 cites W2168967186 @default.
- W2551778987 cites W2321100801 @default.
- W2551778987 cites W2461370502 @default.
- W2551778987 cites W2467874728 @default.
- W2551778987 cites W2560421496 @default.
- W2551778987 cites W2619535613 @default.
- W2551778987 cites W2752617332 @default.
- W2551778987 cites W2787666768 @default.
- W2551778987 cites W2901928578 @default.
- W2551778987 cites W2914537497 @default.
- W2551778987 cites W3021920302 @default.
- W2551778987 cites W3121680668 @default.
- W2551778987 cites W3122433581 @default.
- W2551778987 cites W3122585977 @default.
- W2551778987 cites W3122976683 @default.
- W2551778987 cites W3126092563 @default.
- W2551778987 cites W4214553263 @default.
- W2551778987 cites W4235592999 @default.
- W2551778987 doi "https://doi.org/10.2139/ssrn.2862673" @default.
- W2551778987 hasPublicationYear "2016" @default.
- W2551778987 type Work @default.
- W2551778987 sameAs 2551778987 @default.
- W2551778987 citedByCount "2" @default.
- W2551778987 countsByYear W25517789872017 @default.
- W2551778987 countsByYear W25517789872018 @default.
- W2551778987 crossrefType "journal-article" @default.
- W2551778987 hasAuthorship W2551778987A5057653030 @default.
- W2551778987 hasAuthorship W2551778987A5058822367 @default.
- W2551778987 hasBestOaLocation W25517789872 @default.
- W2551778987 hasConcept C111472728 @default.
- W2551778987 hasConcept C138885662 @default.
- W2551778987 hasConcept C144133560 @default.
- W2551778987 hasConcept C166052673 @default.
- W2551778987 hasConceptScore W2551778987C111472728 @default.
- W2551778987 hasConceptScore W2551778987C138885662 @default.
- W2551778987 hasConceptScore W2551778987C144133560 @default.
- W2551778987 hasConceptScore W2551778987C166052673 @default.
- W2551778987 hasLocation W25517789871 @default.
- W2551778987 hasLocation W25517789872 @default.
- W2551778987 hasOpenAccess W2551778987 @default.
- W2551778987 hasPrimaryLocation W25517789871 @default.
- W2551778987 hasRelatedWork W1629018320 @default.
- W2551778987 hasRelatedWork W2029582221 @default.
- W2551778987 hasRelatedWork W2086276333 @default.
- W2551778987 hasRelatedWork W2380008662 @default.
- W2551778987 hasRelatedWork W2392797870 @default.
- W2551778987 hasRelatedWork W2629273890 @default.
- W2551778987 hasRelatedWork W2790444002 @default.
- W2551778987 hasRelatedWork W2791528230 @default.
- W2551778987 hasRelatedWork W3125832038 @default.
- W2551778987 hasRelatedWork W3125044168 @default.
- W2551778987 isParatext "false" @default.
- W2551778987 isRetracted "false" @default.
- W2551778987 magId "2551778987" @default.
- W2551778987 workType "article" @default.