Financial Innovation and Risk Sharing

Financial Innovation and Risk Sharing

by Franklin Allen, Douglas Gale
     
 

Franklin Allen and Douglas Gale assemble some of their key papers along with a five-chapter overview that not only synthesizes their work but provides a historical and institutional review and a discussion of alternative approaches as well.See more details below

Overview

Franklin Allen and Douglas Gale assemble some of their key papers along with a five-chapter overview that not only synthesizes their work but provides a historical and institutional review and a discussion of alternative approaches as well.

Product Details

ISBN-13:
9780262011419
Publisher:
MIT Press
Publication date:
04/10/1994
Edition description:
New Edition
Pages:
389
Product dimensions:
6.00(w) x 9.00(h) x 1.10(d)

Table of Contents

Preface
IFinancial Innovation: An Overview1
2History and Institutions11
3Industrial Organization Approaches to Innovation45
4An Outline of Our Theory57
5Other Approaches and Future Research133
References to Chapters 1-5149
IIModels of Financial Innovation and Risk Sharing155
6Optimal Security Design157
7Arbitrage, Short Sales, and Financial Innovation199
8Incomplete Markets and Incentives to Set Up an Options Exchange233
9The Efficient Design of Public Debt271
10Standard Securities309
11The Changing Nature of Debt and Equity: A Financial Perspective347
Index375

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