Suchergebnisse

After the onset of the subprime crisis and the European debt crisis, credit default swaps (CDS) have seen a strong increase in usage. Particularly sovereign CDS protection has been sought after, paralleling the rise in sovereign debt levels, slumps in GDP growth and political tensions in Eurozone peripheral countries. Understanding the strengths and weaknesses of CDS products has hence become ever more important, from both the perspective of individual market participants and regulatory bodies. This paper gives an overview of the origins and characteristics of CDS products by discussing the various stages of the product life-cycle. In a second step, we investigate the development and functioning of the CDS market. We focus particularly on the differences between corporate and sovereign CDS and provide insights into the respective structure of market participants, means of product usage and regulatory conditions.

The statistical moment method has been applied to investigate the temperature effects on the lattice parameters and elastic properties of the zinc-blende CdX (X = S, Se, Te) compounds. The analytical expressions of thermal-induced atomic displacement, lattice constant, elastic moduli (Young's modulus, bulk modulus and shear modulus) and elastic constants (including C11,C12 and C44) of the zinc-blende compounds have been derived. We have pointed out that the temperature effects on the elastic properties of CdS and CdSe are almost the same. And the elastic quantities of CdS and CdSe are more strongly dependent on temperature than those of CdTe semiconductor. This phenomenon is caused by the weaker coupling force of Cd-Te bonds compared to those of Cd-S and Cd-Se bonds. Furthermore, from the calculated Debye temperatures of CdX (X = S, Se, Te) compounds we conclude that CdS has higher phonon thermal conductivity and is therefore more thermally conductive among the three semiconductor compounds. The calculations of present work can be used as an appropriate reference for the experiments in future.