Derivatives: The Wild Beast of Finance

by Alfred Steinherr

In their award-winning essay The Wild Beast of Derivatives, the authors made an important contribution to the debate on the regulatory implications of derivatives. In this groundbreaking work they expand on their original ideas, placing derivatives in a wider historical and economic context and reflect on the dramatic implications these powerful instruments may have for the conduct of monetary policy and the future of world banking.

452 pages, Hardcover

First published April 23, 1998

Reviews

[Monzenn · Rating 5 out of 5]

It at least deserves a soft five. My only gripe about it is it is severely in favor of derivatives in (mostly) its current form - as unimpeded as feasible, and even expanding. At least it acknowledges that macro-level transparency and exchange-traded derivatives are good things to have, and that regulators do have a place. Because it would have been a shame to have such a treasure trove of useful information to lose a star because of its stance. Market developments, structure developments, case studies, the book has it all. That alone may be worth the price of admission.