We use a model of a bank under perfect competition to examine effects of derivatives for tradeable and non tradeable …

both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of … German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage …

between prices of derivatives and spot prices. A literature review of interventions in the FX market is done. Then, we study …

We present two methods based on functional principal component analysis (FPCA) for the estimation of smooth derivatives … decomposition to a) the dual covariance matrix of the derivatives, and b) the dual covariance matrix of the observed curves. To …

derivatives including all firms based in the European Union. On average, we find that around 75% of market gross notional relates …

counterparty credit risk in derivatives markets. I perform an empirical study of the incentives for voluntary central clearing of … significant amount of clearing happens only for credit and interest rate derivatives, while equity, foreign exchange, and … commodity derivatives are rarely centrally cleared. The results validate theoretical literature, and guide future modeling of …

Using a novel regulatory dataset of fully identified derivatives transactions, this paper provides the first …