Systemic risk propagated through over-the-counter derivatives can best be managed by a public-private central … provide an effective policy instrument for controlling systemic risk. Moreover this structure, in contrast to current proposed …

regression tests fail to account for time varying risk premia that are correlated with the spread, causing a downward bias in the … varying risk premia. …

- including the consumer's intertemporal discount rate equal to the real market rate of return on risk free investments ? it may …