authors investigate alternative forecast-generating processes. In some markets the process produces an unbiased estimate of … the process generating the unbiased forecast. The authors find that, in general, period-end asset price reflects private … forecasts, regardless of the forecast-generating process. Subsequently, they investigate whether traders' abilities to use …

example, delivers half the risk reduction possible from diversifying across regions globally. …

Several recent studies have recommended greater reliance on subordinated debt as a tool to discipline bank risk taking …

Foreign exchange transactions are subject to a unique type of settlement risk. This risk ultimately stems from the …

Previous comparative analyses of gross and net settlement have focused on the credit risk of the central counterparty … in net settlement arrangements and on the incentives for participants to alter the risk of the portfolio under net …