期刊名称：BULLETIN OF EU AND US INFLATION AND MACROECONOMIC ANALYSIS
出版年度：2008
卷号：168
期号：0
页码：65-71
出版社：Universidad Carlos III de Madrid
摘要：The OTC derivatives market allows for the establishment of contractual obligations between financial institutions that may be impossible to satisfy, even in principle. In particular, OTC derivatives allow for the creation of a "pyramid" of financial promises that cannot possibly be satisfied because the amount to be paid, in certain states of the world, is larger than the value of total world wealth in that thos same states of the work.
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