Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published in 2007 by World Scientific, summarizes a 2006 conference held by Merrill Lynch in London where several practitioners attempted to propose models rectifying some of the copula limitations. See also the article by Donnelly and Embrechts and the book by Brigo, Pallavicini and Torresetti, that reports relevant warnings and research on CDOs appeared in 2006. COUNT 5
QSN1 Who published "Credit Correlation: Life After Copulas" in 2007? ANS1 World Scientific QSN2 When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts? ANS2 2006 QSN3 The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London? ANS3 Merrill Lynch QSN4 What did the volume "Credit Correlation: Life After Copulas" propose models to rectify? ANS4 some of the copula limitations QSN5 What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs? ANS5 2006