Over the past decade, credit derivatives have emerged as the key financial innovation in global capital markets. At end 2004, the market size hit $6.4 billion (in notional amounts) from virtually nothing in 1995. This rise has been spurred by the imperative for banks to better manage their risks, not least credit risks, and the appetite shown by institutional investors and hedge funds for innovative, high yielding structured investment products. As a result, growth in collateralized debt obligations and other second-generation products, such as credit indices, is currently phenomenal. It is enabled by the standardization and increased liquidity in credit default swaps – the building block of the credit derivatives market. Written by market practitioners and specialists, this book covers the fundamentals of the credit derivatives and structured credit market, including in-depth product descriptions, analysis of real transactions, market overview, pricing models, banks business models. It is recommended reading for students in business schools and financial courses, academics, and professionals working in investment and asset management, banking, corporate treasury and the capital markets. Highlights include: Written by market practitioners and specialists with first-hand experience in the credit derivatives and structured credit market A clearly-written, pedagogical book with numerous illustrations Detailed review of real-case transactions A comprehensive historical perspective on market developments including up-to-date analysis of the latest trends
Over the past decade, credit derivatives have emerged as the key financial innovation in global capital markets. At end 2004, the market size hit $6.4 billion (in notional amounts) from virtually nothing in 1995. This rise has been spurred by the imperative for banks to better manage their risks, not least credit risks, and the appetite shown by institutional investors and hedge funds for innovative, high yielding structured investment products. As a result, growth in collateralized debt obligations and other second-generation products, such as credit indices, is currently phenomenal. It is enabled by the standardization and increased liquidity in credit default swaps – the building block of the credit derivatives market. Written by market practitioners and specialists, this book covers the fundamentals of the credit derivatives and structured credit market, including in-depth product descriptions, analysis of real transactions, market overview, pricing models, banks business models. It is recommended reading for students in business schools and financial courses, academics, and professionals working in investment and asset management, banking, corporate treasury and the capital markets. Highlights include: Written by market practitioners and specialists with first-hand experience in the credit derivatives and structured credit market A clearly-written, pedagogical book with numerous illustrations Detailed review of real-case transactions A comprehensive historical perspective on market developments including up-to-date analysis of the latest trends
Discover a comprehensive exploration of recent developments and fundamental concepts in the applications of metasurfaces. In Electromagnetic Metasurfaces: Theory and Applications, distinguished researchers and authors Karim Achouri and Christophe Caloz deliver an introduction to the fundamentals and applications of metasurfaces and an insightful analysis of recent and future developments in the field. The book describes the precursors and history of metasurfaces before continuing on to an exploration of the physical insights that can be gleaned from the material parameters of the metasurface. You’ll learn how to compute the fields scattered by a metasurface with known material parameters being illuminated by an arbitrary incident field, as well as how to realize a practical metasurface and relate its material parameters to its physical structures. The authors provide examples to illustrate all the concepts discussed in the book to improve and simplify reader understanding. Electromagnetic Metasurfaces concludes with an incisive discussion of the likely future directions and research opportunities in the field. Readers will also benefit from the inclusion of: A thorough introduction to metamaterials, the concept of metasurfaces, and metasurface precursors An exploration of electromagnetic modeling and theory, including metasurfaces as zero-thickness sheets and bianisotropic susceptibility tensors A practical discussion of susceptibility synthesis, including four-parameters synthesis, more than four-parameters synthesis, and the addition of susceptibility components A concise treatment of scattered-field analysis, including approximate analytical methods, and finite-difference frequency-domain techniques Perfect for researchers in metamaterial sciences and engineers working with microwave, THz, and optical technologies, Electromagnetic Metasurfaces: Theory and Applications will also earn a place in the libraries of graduate and undergraduate students in physics and electrical engineering.
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