trading frictions to motivate the issue of risk-spreading ‘bundled’ debt are more promising for money creation, although they … monetary theory of production that integrates the insights of Post-Keynesian monetary theory and the triangular contracts of …

motion (GBM) process. That is, we show what difficulties can arise when failing to account for estimation risk. Our working … the underlying risk-neutral process. Next we extend our work to the contingent claim sensitivities associated with an … difficulties that can ensue when failing to account for estimation risk in valuation and hedging formulae. …