On the Management of Financial Guarantees

Robert C. Merton () and Zvi Bodie ()

Financial Management, 1992, vol. 21, issue 4

Abstract: Financial guarantees, such as insurance against credit risk and contract default, serve an important function for virtually every player in the global economy - households, businesses, and governments. Without such guarantees, both implicit and explicit, many economic activities would be less efficiently performed. This paper develops a framework for analyzing the efficient management of such guarantees in both the private and public sectors.

Date: 1992
References: Add references at CitEc
Citations View citations in EconPapers (26) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:fma:fmanag:merton92

Access Statistics for this article

Financial Management is edited by Bill Christie

More articles in Financial Management from Financial Management Association
Address: University of South Florida 4202 E. Fowler Ave. COBA #3331 Tampa, FL 33620
Contact information at EDIRC.
Series data maintained by Courtney Connors (). This e-mail address is bad, please contact .