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Fiancial Innovation, Structuring and Risk Transfer

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Publication Date
Keywords
  • D50 - General
  • G12 - Asset Pricing
  • Trading Volume
  • Bond Interest Rates
  • D81 - Criteria For Decision-Making Under Risk And Uncertainty
  • G18 - Government Policy And Regulation
  • D52 - Incomplete Markets
  • G10 - General
  • G21 - Banks
  • Depository Institutions
  • Micro Finance Institutions
  • Mortgages

Abstract

These lecture notes are about financial innovations. We ask why are there some innovation and how is an innovative idea realized. This forces us to consider practical and structural aspects (regulations, taxation, markets) as key drivers of innovations and also basic formal aspects in valuation. Contents: Overview: Taxes and Regulation, Technology, Who Innovates, Life Cycle, Pricing and Hedging Discount Factors and No Arbitrage Investment: Rule Bases, Alpha, Beta, View and Trade, Fund Industry, Portfolio Theory Swaps and Financial Markets: IRS, TRS, ALM, ISDA Retail Structured Products Real Estate Asset Class, Green Banking, Demographic Risk Financial Crisis: Overview Leverage, Systemic Risk, Securitization, Pricing

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