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Publications

Books

2005
McNeil A., Frey, R. and Embrechts, P. "Quantitative Risk Management" Princeton University Press, Princeton Series in Finance. Visit the official book homepage at PUP or download table of contents and a free sample chapter


Current projects

2011
Frey, R., Schmidt, T. and Xu, L. "On Galerkin Approximations for the Zakai Equation with Diffusive and Point Process Observations" PDF

Contributions to refereed journals

1996
Frey, R. and Sommer, D. "A Systematic Approach to Pricing and Hedging of International Derivatives with Interest Rate Risk", Applied Mathematical Finance 3, 295-317 (1996). PDF
1996
Frey, R. "Derivative Asset Analysis in Models with Level Dependent and Stochastic Volatility", CWI Quaterly 10, no 1 (special issue on the Mathematics of Finance) p 1-34. PS (372k)
1997
Frey, R. and Stremme, A. "Market Volatility and Feedback Effects from Dynamic Hedging", Mathematical Finance 7 (1997), p 351-374. PS (273k) PDF (297k)
1998
Frey, R. and Sommer, D. "The Generalization of the Geske-Formula for Compound Options to Stochastic Interest Rates is Not Trivial - a Note", Journal of Applied Probability, June 1998. PS (203k)
1998
Frey, R. "Perfect Option Replication for a Large Trader", Finance and Stochastics 2, (1998), p 115-142. PS (465k)
1999
Frey, R. and Sin, C.A. "Bounds on European Option Prices under Stochastic Volatility", Mathematical Finance 9, (1999) p 97-116. PS (285k)
1999
Frey, R. and Runggaldier, W. "Risk-minimizing hedging strategies under restricted information: the case of stochastic volatility models observable only at discrete random times", Mathematical Methods of Operations Research vol 50, No 3 (1999)
2000
McNeil, A. and Frey, R. "Estimation of Tail-Related Risk Measures for Heteroscedastic Financial Time Series: an Extreme Value Approach", Journal of Empirical Finance 7, p 271-300, (2000). PS (564k) PDF (547k)
2000
Frey, R. "Superreplication in Stochastic Volatility Models and Optimal Stopping", Finance and Stochastics, vol 4 Nr 2, p 161-188 (2000). PS (394k)
2000
Frey, R. "Risk-Minimization with Incomplete Information in a Model for High Frequency Data", Mathematical Finance, vol 10, no 2 (2000). PS
2001
Frey, R. and Runggaldier, W. "Nonlinear Filtering Techniques for Volatility Estimation with a View towards High Frequency Data", International Journal of Theoretical and Applied Finance 4, p 271-300 (2001). PS (520k)
2001
Frey, R. and McNeil, A., Nyfeler, M. "Copulas and credit models", RISK, p 111-114, (October 2001). PDF (360k)
2002
Frey, R. and McNeil, A,. "VaR and expected shortfall in portfolios of dependent credit risks: Conceptual and practical insights", Journal of Banking & Finance, vol 26, p 1317-1334 (2002). PDF (326k)
2003
Frey, R. and McNeil, A,. "Dependent Defaults in Models of Portfolio Credit Risk", Journal of Risk 6(1) 59--92 (2003). An earlier working paper version is available online. PDF (320k)
2007
Eberlein, E. and Frey, R. and Kalkbrener, M. and Overbeck, L. "Mathematics in Financial Risk Management" (in Jahresbericht der DMV) working-paper version as PDF (350k)
2008
Frey, R. and Popp, M. and Weber, S. "An approximation for credit portfolio losses", The Journal of Credit Risk, vol 4, no1, p 3-20 (2008) PDF (250k)
2008
Frey, R. and Backhaus, J. "Pricing and Hedging of Portfolio Credit Derivatives with Interacting Default Intensities" International Journal of Theoretical and Applied Finance, vol 11 (6), 611-634 (2008); PDF
2009
Frey, R. and Schmidt, T. "Pricing Corporate Securities under Noisy Asset Information", Mathematical Finance 19, pp.~403 - 421.PDF (490k)
2010
Frey, R. and Backhaus, J. "Dynamic hedging of synthetic CDO-tranches with spread- and contagion risk", in Journal of Economic Dynamics and Control 34, 710--724 PDF (340k)
2010 Frey, R. and Runggaldier, W.J. "Pricing Credit Derivatives under Incomplete Information: a Nonlinear-Filtering Approach", Finance and Stochastics, 14 (4) pp. 495 - 526 PDF
2010
Frey, R. and Seydel, R. "Optimal Securitization of Credit Portfolios via Impulse Control", Mathematics and Financial Economics, 4 (1), pp. 1-28 PDF
2011 Frey, R. and Schmidt, T. "Pricing and Hedging of Credit Derivatives via the Innovations Approach to Nonlinear Filtering"  PDF (309k), Finance and Stochastics (online first Feb 2011 DOI 10.1007/sd00780 - 011 - 0153 - 0)
2011
Frey, R. and Polte, U. "Nonlinear Black-Scholes Equations in Finance: Associated Control Problems and Properties of Solutions" SIAM Journal of Control and Optimization, 49 (1) pp. 185 - 204 PDF
2011
Frey, R., Gabih, Abdelali and Wunderlich, Ralf "Portfolio Optimization under Partial Information with Expert Opinions", preprint, department of mathematics, Universität Leipzig, to appear in International Journal of Theoretical and Applied Finance PDF

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Contributions to books

2000
Frey, R. "Market Iiquidity as a Source of Model Risk in Dynamic Hedging in Model Risk", ed. by R. Gibson, RISK Publications, London (2000) PS (230K)
2001
Embrechts, P. and Frey, R. and Furrer, H.J. "Stochastic Processes in Finance and Insurance", Handbook of Statistics, Volume 19 , p 365-412 (2001). Stochastic Processes: Theory and Methods, Edited by D.N. Shanbhag and C.R. Rao (North Holland). PS (750k)
2002
Frey, R. and Patie, P. "Risk Management for Derivatives in Illiquid Markets: A Simulation Study", ed. by Sandmann, K. and Schönbucher in Advances in Finance and Stochastics, Berlin (2002). PDF
2011
Frey, R. and Schmidt, T. "Filtering and Incomplete Information in Credit Risk", Chapter 7 in Recent Advancements in the Theory and Practice of Credit Derivativesk, Damiano Brigo, Tom Bielecki and Frederic Patras, ed., Wiley, New Jersey PDF
2011 Frey, R. and Runggaldier, W.J. "Nonlinear Filtering in Models for Interest-Rate and Credit Risk"  Chapter 32 in "Handbook of Nonlinear Filtering", D. Crisan, B. Rozovski, eds.,Oxford University Press PDF

Older working papers

1997
Frey, R. and Michaud, P. "The Effect of GARCH-type Volatilities on Prices and Payoff-Distributions of Derivative Assets - a Simulation Study" , preprint, ETH Zürich. PDF
2001
Frey, R. and McNeil, A. "Modelling Dependent Defaults", preprint, Universität and ETH Zürich. PS , PDF
2004
Frey, R. and Backhaus, J. "Portfolio Credit Risk Models with Interacting Default Intensities: a Markovian Approach", preprint, department of mathematics, Universität Leipzig. PDF

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