Practical tools and advice for managing financial risk, updated for a post-crisis world Advanced Financial Risk Management bridges the gap between the idealized assumptions used for risk valuation and the realities that must be reflected in management actions. It explains, in detailed yet...

This paper develops a structural credit risk model to characterize the difference between the economic and recorded default times for a firm. Recorded default occurs when default is recorded in the legal system. The economic default time is the last time when the firm is able to pay off its debt...

Key Features:Consists of original papers from a world-renowned author whose seminal work in the area of fixed income derivatives provided many of the most widely used modelsContains papers that made significant advances in financial economicsGives readers insights into financial derivatives...