This paper develops a framework to measure the exposure to systematic risk for pools of asset securitizations and measures empirically whether current ratings-based rules for regulatory capital of securitizations under Basel II and Basel III reflect this exposure.

This paper analyses the pricing of systematic risk factors in credit default swap contracts in a two-stage empirical framework. In the first pass, we estimate contract specific sensitivities to several systematic risk factors by time-series regressions using quoted credit default swap (CDS) spreads of 339 U.S. entities from 2004 to 2010. We find that the...

Contrary to the conventional wisdom about media consumption dividing along generational or political lines, a new survey finds that the nature of the news itself—the topic and speed of the story—largely determines where people go to learn about events and the path they take to get there. The findings also suggest that some long-held beliefs...

With inventive foreign policy needed to reassure the Indo-Pacific’s established powers and accommodate Chinese ambitions, this report proposes three complementary strategies: prolong US leadership; protect the territorial status quo; and pursue a policy of ‘strategic ambiguity’ vis-à-vis territorial disputes. Executive summary With the centre of global economic gravity shifting east towards Asia, the Indo-Pacific will...

This report explores the details of the Obama Administration's executive order on cybersecurity, breaking down the challenges, criticisms, and successes of the effort to date, before offering clear lessons from the US experience that can be applied to the Australian context. Summary: On 12 February 2014 the United States National Institute of Standards & Technology...