contain assets with substantial interest rate risk, such as unit trusts, within a cointegration money demand framework … made it possible to account for interest rate risk in combination with risk aversion in the construction of monetary …

nineties. Financial innovations have made assets with substantial interest rate risk (e.g. unit trusts) more liquid and recent … developments in monetary aggregation theory dealt with risk and risk aversion in the calculation of user costs. It is, however, not …

The aim of this paper is to compare various methods which extract a Risk Neutral Density (RND) out of PIBOR as well as …

We develop a model of an overlapping generations economy characterized by provate pensions where risk averse agents …

these risks. We provide a simple, parametric framework in which ine can analyze price, default and sustemic risk. …