DCFM

Default and Collateral in Financial Markets

 Coordinatore THE UNIVERSITY OF EXETER 

Spiacenti, non ci sono informazioni su questo coordinatore. Contattare Fabio per maggiori infomrazioni, grazie.

 Nazionalità Coordinatore United Kingdom [UK]
 Totale costo 156˙538 €
 EC contributo 156˙538 €
 Programma FP7-IDEAS-ERC
Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
 Code Call ERC-2009-StG
 Funding Scheme ERC-SG
 Anno di inizio 2010
 Periodo (anno-mese-giorno) 2010-06-01   -   2012-06-30

 Partecipanti

# participant  country  role  EC contrib. [€] 
1    THE UNIVERSITY OF EXETER

 Organization address address: Northcote House, The Queen's Drive
city: EXETER
postcode: EX4 4QJ

contact info
Titolo: Dr.
Nome: Enda
Cognome: Clarke
Email: send email
Telefono: +44 1392 263744
Fax: +44 1392 263686

UK (EXETER) hostInstitution 156˙538.00
2    THE UNIVERSITY OF EXETER

 Organization address address: Northcote House, The Queen's Drive
city: EXETER
postcode: EX4 4QJ

contact info
Titolo: Dr.
Nome: Ioannis
Cognome: Vailakis
Email: send email
Telefono: 0044 1392264436

UK (EXETER) hostInstitution 156˙538.00

Mappa


 Word cloud

Esplora la "nuvola delle parole (Word Cloud) per avere un'idea di massima del progetto.

agents    explore    collateral    economic    market    risk    direction    endogenous    modern    sharing    perspective    economies    implications    default    outcomes   

 Obiettivo del progetto (Objective)

'The main objective of this project is to research the economic implications of default and collateral in financial markets. It is motivated from the observation that much of the lending in modern economies is secured by some form of collateral and by the empirical fact that modern economies experience a substantial amount of default and bankruptcy. From a theoretical perspective, the research aims to explore new ways of modelling default and collateral and employ them to evaluate the impact of default and collateral on market outcomes. From a policy recommendation perspective, the research aims to develop models with testable implications that can be used by practitioners to discuss the consequences of a wide range of policies. In particular, to explore which kind of regulation procedures should be implemented in order to lower the risk of default and at the same time not to reduce too much risk-sharing. The agenda includes two research directions. The first research direction will focus on the implications of default and collateral in economies with bounded rational agents. Our aim is to understand how default and collateral affect market outcomes in environments where agents are allowed to have very divergent and therefore possibly incorrect beliefs about endogenous economic variables like future prices and delivery rates. The second research direction will focus on the implications of default and collateral in economies with an open ended horizon. Our aim is to investigate endogenous debt constraints that are compatible with equilibrium and simultaneously allow for as much risk sharing as possible.'

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