We use proprietary transaction data on interest rate swaps to assess the effects of
centralized trading, as mandated by Dodd–Frank, on market quality. Contracts with the most …

Does hedging motivate CDS trading and does that affect the availability of credit? To answer
these questions we couple comprehensive bank-firm level CDS trading data from the …

We provide a tractable model of counterparty risk in a risk transfer market, and analyze the
consequences of this risk being private information. We show that unknown type information …

The credit default swap (CDS) market has experienced tremendous changes over the last
two decades. This chapter reviews recent studies on the CDS contract and the CDS market …

Our study investigates the optimal dividend strategy for a bank, taking into account the
potential for government capital injections. We explore different types of government …

We assess the differential impact of the “Big Bang” and “Small Bang” contract and
convention changes on market participants across CDS markets. We couple comprehensive …

Following the recent financial crisis, increasing the transparency of credit default swap
(CDS) markets has been a popular goal among regulators. We examine how changes in the …

Is the trading of credit default swaps related to hedging motives? And does denser CDS
trading increase the availability of credit as well? To answer these questions we couple …

This paper examines credit risk premiums of 131 European companies as the difference
between their CDS spreads and expected losses. The period between September 2012 and …

Our study investigates the optimal dividend strategy for a bank, taking into account the
potential for government capital injections. We explore different types of government …