Synthetic or Real The Equilibrium Effects of Credit Default Swaps on Bond Markets_Martin Oehmke

SyntheticorReal?TheEquilibriumEffectsofCreditDefaultSwapsonBondMarkets∗MartinOehmke†ColumbiaUniversityAdamZawadowski‡BostonUniversityJune29,2014AbstractWeprovideamodelofnon-redundantcreditdefaul...