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Journal Article
Forecasting changes in inflation using the Treasury bill futures market
Rosengren, Eric S. (1987-03)
New England Economic Review , Issue Mar , Pages 41-48

Journal Article
Stocks, bonds, options, futures, and portfolio insurance: a rose by any other name
Fortune, Peter (1995-07)
Trading volume and open interest in options and futures contracts on stock indices, equities, and interest rate instruments traded on world exchanges have experienced remarkable growth. However, this growth has been accompanied by controversy about the proper role of financial derivatives and the potential for abuse. Prominent attention has been given to losses by major corporations, broker-related short-term mutual funds, and municipal agencies.> The public debate about "derivatives" has promoted the impression that the heart of the problem has been a proliferation of brand new ways of ...
New England Economic Review , Issue Jul , Pages 25-46

Working Paper
Contracting innovations and the evolution of clearing and settlement methods at futures exchanges
Moser, James T. (1998)
Defining futures contracts as substitutes for associated cash transactions enables a discussion of the evolution of controls over contract nonperformance risk. These controls are incorporated into exchange methods for clearing contracts. Three clearing methods are discussed: direct, ringing and complete. The incidence and operation of each are described. Direct-clearing systems feature bilateral contracts with terms specified by the counterparties to the contract. Exchanges relying on direct clearing system chiefly serve as mediators in trade disputes. Ringing is shown to facilitate contract ...
Working Paper Series , Paper WP-98-26

Working Paper
Opportunity cost and prudentiality: an analysis of collateral decisions in bilateral and multilateral settings
France, Virginia G.; Baer, Herbert L.; Moser, James T. (2001)
This paper develops a model that explains how the creation of a futures clearinghouse allows traders to reduce default and economize on margin. We contrast the collateral necessary between bilateral partners with that required when multilateral netting occurs. Optimal margin levels balance the deadweight costs of default against the opportunity costs of holding additional margin. Once created, it may be optimal for the clearinghouse to monitor the financial condition of its members. If undertake, monitoring will reduce the amount of margin required but need not affect the probability of ...
Working Paper Series , Paper WP-01-26

Journal Article
Will increased regulation of stock index futures reduce stock market volatility?
Becketti, Sean; Roberts, Dan J. (1990-11)
Economic Review , Volume 75 , Issue Nov , Pages 33-46

Journal Article
Managing interest rate risk with interest rate futures
Morris, Charles S. (1989-03)
Economic Review , Volume 74 , Issue Mar , Pages 3-20

Journal Article
Coordinating circuit breakers in stock and futures markets
Morris, Charles S. (1990-03)
Economic Review , Volume 75 , Issue Mar , Pages 35-48

Journal Article
A review of regulatory mechanisms to control the volatility of prices
France, Virginia G.; Kodres, Laura E.; Moser, James T. (1994-11)
Economic Perspectives , Volume 18 , Issue Nov

Journal Article
Circuit breakers
Moser, James T. (1990-09)
Economic Perspectives , Volume 14 , Issue Sep , Pages 2-13

Journal Article
Futures market regulation
Koppenhaver, Gary D. (1987-01)
Economic Perspectives , Volume 11 , Issue Jan

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