Heavy Lifting

• What exactly is a Credit Default Swap?

  A nice explanation of the Credit Default Swap and the extent that the market for these derivatives provides benefits to the financial system, and also a few risks, is provided in this Cleveland Fed Economic Commentary. Here's the abstract:Credit derivative instruments allow default risk to be segregated from debt of [...]
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  Posted: November 04, 2009, 2:26pm EST
  

• A Chamblee-Colwell-Dehring-Depken production

  A plug for a new working paper of mine with John Chamblee (UGA), Peter Colwell (Illinois) and Carolyn Dehring (UGA) ""The Value of Land Conservation: Evidence from North Carolina " available at SSRN. We appreciate any comments on the paper. Here's the abstract:We examine conservation activity in western North Carolina," [...]
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  Posted: November 04, 2009, 10:00am EST