منابع مشابه
'The formula that killed Wall Street': the Gaussian copula and modelling practices in investment banking.
Drawing on documentary sources and 114 interviews with market participants, this and a companion article discuss the development and use in finance of the Gaussian copula family of models, which are employed to estimate the probability distribution of losses on a pool of loans or bonds, and which were centrally involved in the credit crisis. This article, which explores how and why the Gaussian...
متن کامل‘The Formula That Killed Wall Street’? The Gaussian Copula and the Material Cultures of Modelling
This paper presents a predominantly oral-history account of the development of the Gaussian copula family of models, which are used in finance to estimate the probability distribution of losses on a pool of loans or bonds, and which were centrally involved in the credit crisis. The paper draws upon this history to examine the articulation between two distinct, cross-cutting forms of social patt...
متن کاملThe Formula That Killed Wall Street: The Gaussian Copula and Modelling Practices in Investment Banking
Drawing on documentary sources and 114 interviews with market participants, this and a companion article discuss the development and use in finance of the Gaussian copula family of models, which are employed to estimate the probability distribution of losses on a pool of loans or bonds, and which were centrally involved in the credit crisis. This article, which explores how and why the Gaussian...
متن کاملOccupy Wall Street, Bay Street and the street nearest you.
The Canadian Centre for Policy Alternatives released a study in early January highlighting the growing income disparities between the richest and poorest Canadians. Income tax files from 2007 show that the average income of the top 1% of income earners was over $400,000 compared to about $44,000 for the average Canadian, almost a tenfold difference. Those who laboured at the minimum wage earned...
متن کاملContext Mediation on Wall Street
This paper reports on a practical implementation of a context mediator for the fixed income securities industry. We describe industry circumstances and the data and calculation services (DCS) mediator developed and deployed in the early 1990s. The mediator was designed as an interpretive engine controlled by a static declarative knowledge structure and client preference data. In addition to het...
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ژورنال
عنوان ژورنال: Significance
سال: 2012
ISSN: 1740-9705
DOI: 10.1111/j.1740-9713.2012.00538.x