Célérier, Claire; Vallée, Boris - 2016
product complexity in this market via a text analysis of 55,000 product payoff formulas. Over the 2002-2010 period, product … complexity increases, risky products become more common, and product headline rates diverge from the prevailing interest rates as … the latter decline. The complexity of a product is positively correlated with its headline rate and risk. Complex products …