32. “Credit Default Swaps from the Viewpoint of Libertarian Property Rights and Contract Theory”


Abstract
In the so-called “international credit market crisis,” which started in the second half of 2007 in the US subprime mortgage market, financial derivatives, most notably credit default swaps (CDS), have been publically blamed for having caused, or at least aggravated, the economic and monetary debacle. However, sound economic [...]
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