Macroeconomic Conditions, Growth Opportunities and the Cross-Section of Credit Risk, Marc Arnold (Swiss Finance Institute at the University of Zurich), Alexander Wagner (Swiss Finance Institute at the University of Zurich) and Ramona Westermann (Swiss Finance Institute at the University of Zurich)

A WhIMS for Financial Crises, Christophe Boucher (A.A.Advisors-QCG (ABN AMRO), Variances & University of Paris-1 (CES/CNRS)), Gregory Jannin (A.A.Advisors-QCG (ABN AMRO), Variances & University of Paris-1), Bertrand Maillet (A.A.Advisors-QCG (ABN AMRO), Variances & University of Paris-1 (CES/CNRS)) and Hélène Raymond (A.A.Advisors-QCG (ABN AMRO), Variances & University of Paris-1)

A Systematic Approach to Multi-Period Stress Testing of Portfolio Credit Risk, Thomas Breuer (Research Centre PPE, Fachhochschule Vorarlberg), Martin Jandacka (Research Centre PPE, Fachhochschule Vorarlberg), Javier Mencía (Banco de España) and Martin Summer (Österreichische Nationalbank)

A Quantitative Model for Structured Microfinance, Gregor Dorfleitner (University of Regensburg) and Christopher Priberny (University of Regensburg)

The Feasibility of Through-The-Cycle Ratings, Karlo Kauko (Bank of Finland)

A Dynamic Mean-Field Contagion Model with Default, Cecilia Prosdocimi (University of Florence) and Giacomo Scandolo (University of Florence)

Value-at-Risk, Limited Liability and the Moral-Hazard Problem, Vanda Tulli (Università di Milano-Bicocca) and Gerd Weinrich (Catholic University of Milan)

Downturn LGD: Flexible and Regulatory Consistent Approaches, Alessandro Turri (Banca Popolare di Sondrio) and Fabio Salis (Cariparma - Gruppo Credit Agricole)

On the Contagion in the Baltic States, Mantas Valužis (Mykolas Romeris University, Vilnius) and Tatjana Židulina (Riga Technical University & University of Zurich, Swiss Banking Institute)