risk can be dealt with through intergouvernemental negotiations. Others associated with more pronounced globalization …

This paper analyzes the risk properties of typical asset-backed securities (ABS), like CDOs or MBS, relying on a model …, and macro factor dependencies. Using a two-dimensional loss decomposition as a new metric, the risk properties of … Carlo Simulation, we find that the risk properties of ABS differ significantly and systematically from those of straight …

transparency relating to effective risk transfer, risk-related management compensation, and credible measurement of rating …, financial intermediaries, whose risk is opaque, may be subjected to higher capital requirements. …