On the Management of Financial Guarantees
Financial guarantees, such as insurance against credit risk and contract default, serve an important function for virtually every player in the global economy - households, businesses, and governments. Without such guarantees, both implicit and explicit, many economic activities would be less efficiently performed. This paper develops a framework for analyzing the efficient management of such guarantees in both the private and public sectors.
Year of publication: |
1992
|
---|---|
Authors: | Merton, Robert C. ; Bodie, Zvi |
Published in: |
Financial Management. - Financial Management Association - FMA. - Vol. 21.1992, 4
|
Publisher: |
Financial Management Association - FMA |
Saved in:
Saved in favorites
Similar items by person