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The purpose of the paper is to investigate how Asset-Backed Securitization (ABS) can be used to fund infrastructure development in developing countries. This paper also presents a case study on how ABS has been used to fund infrastructure in Australia and points out the lessons that developing...
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crisis. Until recently research has focused on the post-1970s mortgage securitization market. In this paper, I trace the …
Persistent link: https://www.econbiz.de/10010944782
This paper examines the macroeconomic implications of recent developments in financial engineering, with particular emphasis on the post-1987 growth of markets for securities backed by credit card, installment, student loan, and home equity receivables. Three linkages of financial engineering to...
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role in Minsky's theory, exhibited any such patterns. I conclude that the nonfinancial corporate sector did not move toward …
Persistent link: https://www.econbiz.de/10010612922
We define a new approach to manage prepayment, default and interest rate risks simultaneously in some standard asset-backed securities structures. We propose a parsimonious top-down approach, by modeling directly the portfolio loss process and the amortization process. Both are correlated to...
Persistent link: https://www.econbiz.de/10010866966
In recent years, one area of growing concern in corporate governance is the accounting and transfer of risk using special purpose entities (or trusts). Such entities are used widely in issuing asset-backed securities. This paper provides an overview of the asset-backed securities market, and...
Persistent link: https://www.econbiz.de/10005134710