We document how counterparty credit risk is priced in FX OTC derivatives. We employ a novel data-set of dealer-specific bid-ask quotes to analyze risk pricing using the decoupling of Swiss franc from the euro as an exogenous shock. First, the removal of the peg increased both the level of...

In this paper we pay tribute to one of the most successful financial innovations in recent times: the Credit Default Swap (CDS). Through a literature review on financial risks from 2000-2015 we develop a conceptual map to assess the importance and evolution of the CDS, along with the...

The substantial economic transformation required to mitigate and adapt to climate change will lower the value of certain businesses as well as some firms' assets in the not-too-distant future. Firms will need to transition to a less carbon-intensive business model, but may do so at different...