Tail risks and contract design: BoE paper
Paul Fisher, the executive director for markets and a member of the Monetary Policy and Financial Policy Committees at the Bank of England, on Thursday presented a paper he co-authored with Patrik Edsparr, a visiting fellow at the Bank.
Titled Tail Risks and Contract Design from a Financial Stability Perspective, the paper gives a number of examples taken from the financial crisis, where financial contracts undertaken for hedging purposes, or with optional features designed to protect the issuer
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