Abstract

http://ssrn.com/abstract=2205425
 


 



Pummeling Derivatives


Christopher L. Culp


Johns Hopkins University - Institute for Applied Economics, Global Health, and Study of Business Enterprise; Compass Lexecon; Risk Management Consulting Services, Inc.; University of Bern - Institute for Financial Management

Steve H. Hanke


Johns Hopkins University - Department of Economics

1994

International Economy, September/October 1994

Abstract:     
During the past year, the press has had a field day pummeling “derivatives.” The Wall Street Journal has even joined in the fun. The grist for the journalists’ mills has been provided by the big losses on derivatives reported by Metallgessellschaft, Proctor & Gamble, Air Products, Gibson Greeting Cards, Piper Jaffray, and the like.

Derivatives also have not gone unnoticed by the armies of legislative beavers who inhabit the environs of Washington, D.C. Even though over a dozen studies – most by the government – in the last two years have effectively explained the numerous benefits of derivatives, legislators have chosen to focus only on the risks these financial instruments create. Unfortunately for the many users of derivatives, the legislative proposals in the pipeline are rooted in a fundamentally flawed regulatory paradigm and, in fact, would increase financial risks facing derivatives users.

Number of Pages in PDF File: 3

Keywords: Steve Hanke, International Economy, Christopher Culp, Derivatives, Pummeling, Risk, Legislation

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Date posted: January 23, 2013  

Suggested Citation

Culp, Christopher L. and Hanke, Steve H., Pummeling Derivatives (1994). International Economy, September/October 1994. Available at SSRN: http://ssrn.com/abstract=2205425

Contact Information

Christopher L. Culp
Johns Hopkins University - Institute for Applied Economics, Global Health, and Study of Business Enterprise ( email )
3400 N. Charles Street
Baltimore, MD 21218
United States
Compass Lexecon ( email )
332 South Michigan Avenue
Suite 1300
Chicago, IL 60604
United States
Risk Management Consulting Services, Inc. ( email )
25 E Superior St
#1806
Chicago, IL 60611
United States
HOME PAGE: http://www.rmcsinc.com
University of Bern - Institute for Financial Management ( email )
Engehaldenstrasse 4
Bern, CH-3012
Switzerland
HOME PAGE: http://cmslive3.unibe.ch/unibe/wiso/ifm/content/index_ger.html
Steve H. Hanke (Contact Author)
Johns Hopkins University - Department of Economics ( email )
3400 Charles Street
Baltimore, MD 21218-2685
United States
410-516-7183 (Phone)
410-516-8996 (Fax)
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