Futures market clearinghouses are intermediaries that make large volume trading between anonymous parties feasible. During the October 1987 market crash rumors spread that a major clearinghouse might fail. This paper presents estimates of three measures of the default exposure on the popular...

Futures market clearinghouses are intermediaries that make large volume trading between anonymous parties feasible. During the market crash in October 1987, rumors spread that a clearinghouse might fail. This paper presents estimates of three measures of the default exposure. The authors...

This paper is an overview of empirical options research, with primary emphasis on research into systematic stochastic volatility and jump risks relevant for pricing stock index options. The paper reviews evidence from time series analysis, option prices and option price evolution regarding those...

Introduction: Methodology and the problem of race in American labor history -- "A deep, dark plot": race in the chicago labor movement, 1894-1905 -- "Every Negro can make a fight": race and the CFL campaign, 1916-1921 -- "Demoralized by its own weaknesses": the structural limits of federated...