Books about Default from Amazon.com

The growth of the credit derviatives market has produced a liquid market in credit default swaps across the credit curve, and this liquidity has led many investors to access both the credit derivative and cash bond markets to meet their investment requirements.

This book investigates the close relationship between the synthetic and cash markets in credit, which manifests itself in the credit default swap basis. Choudhry covers the factors that drive the basis, implications for market participants, the CDS index basis, and trading the basis.

Credit market investors and traders as well as anyone with an interest in the global debt markets will find this insightful and rewarding.

THIS BOOK QUALIFIES FOR 7 PD CREDITS UNDER THE GUIDELINES OF THE CFA INSTITUTE PROFESSIONAL DEVELOPMENT PROGRAM..
Price: $28.99 [Notify me when price goes down.]

The Structured Credit Handbook is a comprehensive introduction to all types of credit-linked financial instruments. This book provides state-of-the-art primers on single tranche collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), credit derivatives (such as credit default swaps and swaptions), and iBoxx indexes. Filled with in-depth insight and expert advice, The Structured Credit Handbook covers all aspects of the synthetic arbitrage CDO market, including new instruments such as CDO2. Readers will also gain a firm understanding of the investment rationale, risks, and rewards associated with CDO investments through this valuable resource.

The exploding use of credit derivatives and collateralized debt obligations (CDOs) has transformed the world of credit, creating an $18 trillion market almost overnight and resulting in innumerable investment and career opportunities globally. The Structured Credit Handbook provides the reader with a comprehensive and clear roadmap to today's new credit landscape. The full spectrum of structured credit products, from single-name CDS to CDOs, is explained in a simple, clear fashion that is free from the financial jargon and mathematical complexity which characterize many other derivative texts. The handbook begins with an in-depth explanation of the building blocks of the structured credit markets, single-name default swaps and indexes, and it culminates with complex products such as credit options, synthetic tranches, CDOs based on bank loans and asset-backed securities, and CDO-squareds.

Written by experienced practitioners who have participated in this market since its infancy, each of the thirteen chapters introduces and analyzes a new product and explains its practical applications. A rich set of real-life case studies illustrate the application of each product in a concrete market setting. The book may be used in a semester-long course on structured credit as part of a business or finance curriculum. Whether you are a market professional, a university student or faculty member, or simply a financially savvy layperson, look no further for an up-to-date and thorough introduction to this rapidly growing and exciting field.

Dr. Arvind Rajan, Managing Director, Citigroup Global Markets, is engaged in proprietary trading of Structured Credit products, and until recently, was global head of Structured Credit Research and Strategy at Citigroup. Glen McDermott (New York, NY) is Director of Fixed Income Sales and the former head of CDO Research at Citigroup Global Markets Inc. Ratul Roy is head of CDO Strategy for Citigroup Global Markets and has spent the prior nine years in structuring or analyzing CDOs and other structured credit products..
Price: $52.74 [Notify me when price goes down.]

The estimation and validation of the Basel II risk parameters PD (default probability), LGD (loss given default), and EAD (exposure at default) is an important problem in banking practice. These parameters are used on the one hand as inputs to credit portfolio models, on the other to compute regulatory capital according to the new Basel rules. The book covers the state-of-the-art in designing and validating rating systems and default probability estimations. Furthermore, it presents techniques to estimate LGD and EAD. A chapter on stress testing of the Basel II risk parameters concludes the monograph.

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Price: $64.80 [Notify me when price goes down.]

On the centennial of the Spanish-American War, the short and confusing conflict receives comprehensive treatment in a narrative of more than 600 pages. At the close of the 19th century, Americans were looking outward at the world. In a precursor to the foreign involvement of the next century the U.S. Navy found itself fighting in the Philippines, and the infantry (and Theodore Roosevelt's volunteer cavalrymen) entered combat (and battle illness) on the island of Cuba. The Spanish-American War has often been overlooked as an oddity, but those who want to understand its role in American history now have access to what may stand as the definitive history of the war that led to the United States being regarded as a world power..
Price: $44.95 [Notify me when price goes down.]

Fully revised and updated
Here is the only comprehensive source that explains the various instruments in the market, their economic value, how to document trades, and more. This new edition includes enhanced treatment of U.S. and worldwide regulatory issues, and new product structures.
"If you want to know more about credit derivatives--and these days an increasing number of people do--then you should read this book."
--Merton H. Miller, winner, Nobel Prize in Economics, 1990
"Tavakoli brings extraordinary insight and clarity to this fascinating financial evolution . . ."--Carl V. Schuman, Manager, Credit Derivatives, West LB New York
Janet M. Tavakoli (Chicago, IL) is Vice President of the Chicago branch of Bank of America, where she directs the company's overall marketing of global derivatives and manages its CreditMetrics initiative..
Price: $47.10 [Notify me when price goes down.]

Choice Outstanding Academic Title, 2007.

The debt crises in emerging market countries over the past decade have given rise to renewed debate about crisis prevention and resolution In Debt Defaults and Lessons from a Decade of Crises, Federico Sturzenegger and Jeromin Zettelmeyer examine the facts, the economic theory, and the policy implications of sovereign debt crises. They present detailed case histories of the default and debt crises in seven emerging market countries between 1998 and 2005: Russia, Ukraine, Pakistan, Ecuador, Argentina, Moldova, and Uruguay. These accounts are framed with a comprehensive overview of the history, economics, and legal issues involved and a discussion from both domestic and international perspectives of the policy lessons that can be derived from these experiences.

Sturzenegger and Zettelmeyer examine how each crisis developed, what the subsequent restructuring encompassed, and how investors and the defaulting country fared. They discuss the new theoretical thinking on sovereign debt and the ultimate costs entailed, for both debtor countries and private creditors. The policy debate is considered first from the perspective of policymakers in emerging market countries and then in terms of international financial architecture. The authors' surveys of legal and economic issues associated with debt crises, and of the crises themselves, are the most comprehensive to be found in the literature on sovereign debt and default, and their theoretical analysis is detailed and nuanced. The book will be a valuable resource for investors as well as for scholars and policymakers..
Price: $32.15 [Notify me when price goes down.]

Most new law is statutory law; that is, law enacted by legislators An important question, therefore, is how should this law be interpreted by courts and agencies, especially when the text of a statute is not entirely clear. There is a great deal of scholarly literature on the rules and legal materials courts should use in interpreting statutes. This book takes a fresh approach by focusing instead on what judges should do once the legal materials fail to resolve the interpretive question. It challenges the common assumption that in such cases judges should exercise interstitial lawmaking power. Instead, it argues that--wherever one believes the interpretive inquiry has failed to resolve the statutory meaning--judges can and should use statutory default rules that are designed to maximize the satisfaction of enactable political preferences; that is, the political preferences of the polity that are shared among enough elected officials that they could and would be enacted into law if the issue were on the legislative agenda.

These default rules explain many recent high-profile cases, including the Guantánamo detainees case, the sentencing guidelines case, the decision denying the FDA authority to regulate cigarettes, and the case that refused to allow the attorney general to criminalize drugs used in physician-assisted suicide.

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Price: $35.00 [Notify me when price goes down.]

Due to the scarcity of reliable data, the existing literature on default risk still displays an imbalance between theoretical and empirical contributions. Consequently, the focus of this book is on empirical work. Within an intensity based modelling framework a broad range of promising specifications is tested using corporate bond data. The book provides one of the most comprehensive empirical studies in the field, from Kalman filtration of affine term structure models to the use of Efficient Method of Moments estimation of dynamic term structure models in a default risky context. Filling another gap in empirical research, the book devotes special attention to the identification factors that can explain credit default swap premia.

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Price: $52.30 [Notify me when price goes down.]

”It is worth noting that one of the many positive things that this book has to recommend for itself is a very clear writing style that makes complex legal and social science concepts accessible to a wide array of audiences.”
—The Law and Politics Book Review

"It's law-focused and part of an academic series, but its style and subject matter make it relevant to a broad audience."
—Pittsburgh Post-Gazette

"A must read for students of bias, racism, discrimination, and privilege. Lu-in Wang employs readable prose and compelling examples to elucidate these complex issues. Her cutting-edge exposition, especially in the context of health care, offers the reader a deeper understanding of the unseen forces that govern daily life."
—Stephanie M. Wildman, professor of law and director, Santa Clara University School of Law Center for Social Justice

"Does a powerful job of explaining why and how discrimination still plays such a strong role in our society. Like all of the best legal scholarship, this insightful book uses an unexpected, fresh conception to explore an age-old, stubborn problem. The result is a new understanding of both our legal structure and the society in which we live. A strong, helpful contribution to the debate on discrimination, its causes, and the damage it does."—David A. Harris, E.N. Balk Professor of Law and Values, University of Toledo College of Law

"(The book is) law-focused and part of an academic series, but its style and subject matter make it relevant to a broad audience."
—Emporia Gazette

” It very effectively manages to put the somtimes-abstract principles of social psychology into real world contexts.”
—PsycCRITQUES

Much as we "select" computer settings by default—reflexively, without thinking, and sometimes without realizing there are other options—we often discriminate by default as well. And just as default computer settings tend to become locked in or entrenched as the standard, discrimination by default creates a situation in which disparate outcomes are expected, accepted, and taken for granted. The killing of Amadou Diallo, racial disparities in medical care, the dominance of Whites and men in certain professions, and even the uneven media attention paid to crimes depending on their victims' race and class, all might be cases of discrimination by, or as, default.

Wang contends that, today, most discrimination occurs by default and not design, making legal prohibitions that focus on those who discriminate out of ill will inadequate to redress the largest share of modern discrimination. She draws on social psychology to detail three ways in which unconscious assumptions can lead to discrimination, showing how they play out in a range of everyday settings. Wang then demonstrates how these dynamics interact in medical care to produce an invisible, self-fulfilling, and self-perpetuating prophecy of racial disparity. She goes on to suggest ways in which institutions and individuals might recognize, interrupt, and override the discriminatory default.

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Price: $20.00 [Notify me when price goes down.]