show instead that transactions deposits help banks hedge liquidity risk from unused loan commitments. Bank stock …-return volatility increases with unused commitments, but the increase is smaller for banks with high levels of transactions deposits …

This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. In … contrast to the similarities, firms in the two countries differ notably on issues such as the primary goal of hedging, their …

beginnings of real estate derivative markets is the advance in home price index construction methods, notably the repeat sales …

We develop a tractable and flexible stochastic volatility multi-factor model of the term structure of interest rates …

increase volatility in order to exploit the implicit protection. However, if they increase volatility too much they may induce … that it allows high volatility choices, while net worth is high. However, risk limits tighten abruptly when the firm's net …

We propose a nonparametric method for estimating the pricing formula of a derivative asset using learning networks … the practical relevance of our network pricing approach, we apply it to the pricing and delta-hedging of Samp;P 500 …