Il existe plusieurs methodes pour apprecier si un taux de change est a son "bon niveau". La parite de pouvoir d'achat (PPA), en niveau et en evolution, constitue une reference souvent utilisee. Mais elle n'est guere appropriee a l'etude des pays emergents, qui ont des niveaux de prix beaucoup...

The huge positions on the credit default swaps (CDS) have raised concerns about the ability of the market to settle major entities’ defaults. The near-failure of AIG and the bankruptcy of Lehman Brothers in 2008 have revealed the exposure of CDS’s buyers to counterparty risk and hence...

The primary functions of a financial system are to supply clearing and settlement of payments, to ensure resource pooling and to transfer those economic resources through time and space, as well as to provide price information on assets by correctly assessing and managing risks. A financial...