Firms with credit-default swaps (CDS) traded on their debt may face "empty creditors" as hedged creditors have less … bank-firm CDS net notional and credit exposures we find that the probability of default for CDS firms drops when the effect … constrained embed the empty creditor effect into their probability of default estimates of affected firms to a larger extent. So …

-chance" offers, where the runner-up bidder pays his own bid price, and they let sellers leave negative feedback on buyers who default … no incentive to exclude bidders, even if they are nearly certain to default; (iii) buyer reputation systems reward …

that the use of a Gaussian copula in credit risk stress testing should not by default be dismissed in favor of a heavy …