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    Credit Default Swaps on Government Debt: Mindless Speculation?


    Flavin, Thomas (2010) Credit Default Swaps on Government Debt: Mindless Speculation? Notes from the Vault, Cenfis, Federal reserve Bank of Atlanta. pp. 1-5.

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    Abstract

    Credit default swaps (CDSs) continue to be controversial, with concern that trades in them drive prices of government debt down. Evidence from the CDS spread for one country—Ireland—indicates that its CDS spread has been reacting to news about developments in Ireland, Greece, and the European Union. This examination of Ireland’s CDS spreads is consistent with the proposition that the spreads reflect fundamental developments, not mindless speculation.

    Item Type: Article
    Keywords: Credit; Default; Government; Debt; Mindless; Speculation;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 8451
    Depositing User: Thomas Flavin
    Date Deposited: 12 Jul 2017 15:07
    Journal or Publication Title: Notes from the Vault, Cenfis, Federal reserve Bank of Atlanta
    Publisher: Federal Reserve Bank of Atlanta’s Center for Financial Innovation and Stability
    Refereed: Yes
    URI:

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