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| Author: | Schloes, M. |
| Title: | Derivatives in a dynamic environment |
| Journal: | American Economic Review
1998 : JUN, VOL. 88:3, p. 350-370 |
| Index terms: | ENVIRONMENT ECONOMICS DYNAMIC MODELS |
| Language: | eng |
| Abstract: | The trading of financial derivatives on organized exchanges has exploded since the early 1970s. The trading of off-exchange financial derivatives on the so-called "over-the-counter" or "OTC" market has exploded since the mid-1980s. Academic and applied research on financial derivatives also has exploded. As a result, three industries have blossomed: an exchange industry in derivatives, an OTC industry in synthetic products, and an academic industry in derivative research. |
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