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Dangers of Bilateral Counterparty Risk: the fundamental impact of closeout conventions
Bilateral Counterparty Risk the fundamental impact
2010/12/13
We analyze the practical consequences of the bilateral counterparty risk adjustment. We point out that past literature assumes that, at the moment of the first default, a risk-free closeout amount wil...
Are Property Rights Relevant for Development Economics? On the Dangers of Western Constructivism
Property Rights Relevant Development Economics Western Constructivism
2014/6/25
Although the importance of property rights as the engine of growth remains beyond dispute, this article tries to show that the crucial issue is not so much the
definition of the allegedly ‘optimal’ ...