Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk-Transfer
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下载链接：
https://www.nber.org/papers/w12742
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资源简介：
Catastrophe bonds feature full collateralization of the underlying risk transfer, and thus abandon the insurance principle of economizing on collateral through diversification. We examine the theoretical foundations beneath this paradox, finding that fully collateralized instruments have important
提供机构：
美国国家经济研究局
创建时间：
2006-12-01
