international macroeconomic risk sharing than is possible today. Retail institutions are described that might develop around such … markets and help the public with their risk management. However, the establishment of such markets would also incur the risk …

Over the course of the nineteenth century, the struggles of Paris Bourse to manage counterparty risk revealed the … regime that limited risk, trading began to migrate off the exchange to less regulated markets …

. Finally we assess the role of risk, finding little evidence that risk-aversion drives a wedge between market prices and …

risk. Current reporting standards for derivatives exposures are nevertheless inadequate for assessing these systemic risk … contributions. In this paper, I explain how a transparency standard, in contrast to the current standard, would facilitate such risk … lack of standardization, they cannot be aggregated to assess the risk to the system. I highlight the important contribution …

more general expected utility maximization in continuous time, the assumptions of constant relative risk aversion and joint … discrete time constant relative risk aversion and joint normally distributed asset return assessments are sufficient to yield …

contracts involving counterparty risk and that they facilitate speculation involving negative views of a firm's financial …