About me
I am a PhD candidate at Vrije Universiteit Amsterdam and Tinbergen Institute, under supervision of Prof. Albert J. Menkveld.
My primary fields are Financial Market Infrastructures, Systemic Risk, and Market Microstructure. In my job market paper, titled, "Central Counterparty Capitalization and Misaligned Incentives", I work on the skin-in-the-game (SITG) problem of Central Counterparties (CCPs). With a partial equilibrium model, I show that profit-driven CCPs, unlike user-owned CCPs, will lower their capital and collateral requirement, leading to CCP insolvency.
I will be at the SAEe and AFA/AEA meeting, and can be reached at w.h.huang@vu.nl.
My primary fields are Financial Market Infrastructures, Systemic Risk, and Market Microstructure. In my job market paper, titled, "Central Counterparty Capitalization and Misaligned Incentives", I work on the skin-in-the-game (SITG) problem of Central Counterparties (CCPs). With a partial equilibrium model, I show that profit-driven CCPs, unlike user-owned CCPs, will lower their capital and collateral requirement, leading to CCP insolvency.
I will be at the SAEe and AFA/AEA meeting, and can be reached at w.h.huang@vu.nl.
Recent UpdatesSystemic Risk in Real Time: A Risk Dashboard for Central Clearing Parties (CCPs) is released online, Dec 16, 2016
Present Central Counterparty Capitalization and Misaligned Incentives at 2016 Simposio de la Asociacion Espanola de Economia (SAEe), Dec 15-17, 2016 Present Central Counterparty Capitalization and Misaligned Incentives in FMID Knowledge sharing at Bank of England, Sep 20, 2016 |