Broll, Udo; Schweimayer, Gerhard; Welzel, Peter - In: Schmalenbach Business Review (sbr) 56 (2004) 4, pp. 360-378
We use the industrial organization approach to the microeconomic s of banking, augment Ed by uncertainty and risk aversion, to ex a mine c r edit derivatives and macro derivatives as instruments t o hedge c r edit risk for a large commercial bank. In a partial-analytic framework we distinguish...