Securitization Economics

Deconstructing the Economic Foundations of Asset Securitization

Laurent Gauthier (Autor)

Buch | Hardcover

XX, 478 Seiten

2020 | 1st ed. 2020
Springer International Publishing (Verlag)
978-3-030-50325-3 (ISBN)

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Securitization is widely used around the world, and structured products are one of the largest fixed-income asset classes. This textbook guides readers through the complexity of this financial technique and first introduces them to the mechanics of securitization and makes the key concepts, techniques and logic of this field accessible for teachers and students alike. Further, the textbook presents a systematic economic analysis of securitization, asking and answering why it exists, how it works, why it has failed, how complex structures operate, why they are so complex, and many other related questions. The author offers a unique approach, and combines detailed discussions of theoretical economics models with advanced empirical research in order to confront them to the perspective of an experienced practitioner in this market.

Laurent Gauthier works as a consultant advising institutional investors on securitized products research and modeling, teaches as an adjunct at Toulouse Business School (France), and has been a Visiting Professor in economics at the University of Konstanz (Germany). He has spent close to 25 years focusing on securitization, and ran securitized products research and trading strategy at Morgan Stanley and at other investment banks. He graduated from Edhec Business School (France) with a major in corporate finance, and holds a PhD in mathematics from Sorbonne University (France). He has published several articles and book chapters in mathematical finance and on the analysis of securitized products.

Introduction to the Economics of Securitazation.- Overview of Securitization and Securitized Products.- Overview of Loan Portfolio Analysis.- Incentives and the Economics of Securitization.- Problems with Securitization.- Structuring Securitized Bonds.- The Economics of Securitization Structuring.- Problems in Securitization Structuring.- Conclusion of Securitization Economics.

Erscheinungsdatum	02.08.2020
Reihe/Serie	Springer Texts in Business and Economics
Zusatzinfo	XX, 478 p. 81 illus., 26 illus. in color.
Verlagsort	Cham
Sprache	englisch
Maße	155 x 235 mm
Gewicht	907 g
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	Applications of mathematical economics • Asset-backed securities • Investments and Securities • Loan portfolio analysis • Over-collateralization and excess spread • Securitized bond markets • Security Design • Structured Finance • Textbook on structured finance
ISBN-10	3-030-50325-9 / 3030503259
ISBN-13	978-3-030-50325-3 / 9783030503253
Zustand	Neuware