Systemic Risk
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Systemic Risk
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Author : Prasanna Gai
language : en
Publisher: OUP Oxford
Release Date : 2013-03-28
Systemic Risk written by Prasanna Gai and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-28 with Business & Economics categories.
Systemic Risk opens new ground in the study of financial crises. It treats the financial system as a complex adaptive system and shows how lessons from network disciplines - such as ecology, epidemiology, and statistical mechanics - shed light on our understanding of financial stability. Using tools from network theory and economics, it suggests that financial systems are robust-yet-fragile, with knife-edge properties that are greatly exacerbated by the hoarding of funds and the fire sale of assets by banks. This book studies the damaging network consequences of the failure of large inter-connected institutions, explains how key funding markets can seize up across the entire financial system, and shows how the pursuit of secured finance by banks in the wake of the global financial crisis can generate systemic risks. The insights are then used to model banking systems calibrated to data to illustrate how financial sector regulators are beginning to quantify financial system stress.
Understanding Systemic Risk In Global Financial Markets
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Author : Aron Gottesman
language : en
Publisher: John Wiley & Sons
Release Date : 2017-06-07
Understanding Systemic Risk In Global Financial Markets written by Aron Gottesman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-07 with Business & Economics categories.
An accessible and detailed overview of the risks posed by financial institutions Understanding Systemic Risk in Global Financial Markets offers an accessible yet detailed overview of the risks to financial stability posed by financial institutions designated as systemically important. The types of firms covered are primarily systemically important banks, non-banks, and financial market utilities such as central counterparties. Written by Aron Gottesman and Michael Leibrock, experts on the topic of systemic risk, this vital resource puts the spotlight on coherency, practitioner relevance, conceptual explanations, and practical exposition. Step by step, the authors explore the specific regulations enacted before and after the credit crisis of 2007-2009 to promote financial stability. The text also examines the criteria used by financial regulators to designate firms as systemically important. The quantitative and qualitative methods to measure the ongoing risks posed by systemically important financial institutions are surveyed. A review of the regulations that identify systemically important financial institutions The tools to use to detect early warning indications of default A review of historical systemic events their common causes Techniques to measure interconnectedness Approaches for ranking the order the institutions which pose the greatest degree of default risk to the industry Understanding Systemic Risk in Global Financial Markets offers a must-have guide to the fundamentals of systemic risk and the key critical policies that work to reduce systemic risk and promoting financial stability.
Systemic Risk History Measurement And Regulation
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Author : Yvonne Kreis
language : en
Publisher: World Scientific
Release Date : 2019-06-04
Systemic Risk History Measurement And Regulation written by Yvonne Kreis and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-04 with Business & Economics categories.
Systemic Risk: History, Measurement and Regulation presents an overview of this emerging form of risk from a global perspective. Systemic risks endanger entire financial systems, not just individual financial institutions. In this volume, the authors review how systemic risk has evolved over the last 40 years across continents to come to the forefront of regulatory attention. They then discuss transmissions channels, provide a review of systemic risk measures, and describe new regulations that have been introduced, as well as the theory and practice of financial stability committees that have been set up internationally. Overall, the book provides a practical guide to understand, identify, assess and control systemic risk.While the financial research on systemic risk has strongly increased since the events of 2008, this book is a first in providing a detailed yet concise overview of the topic, covering the history of systemic risk, its measurement, and its regulation. The authors provide both academic and practitioner-oriented insights, and draw on their different regions of expertise to provide a global perspective on systemic risk.
Handbook On Systemic Risk
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Author : Jean-Pierre Fouque
language : en
Publisher: Cambridge University Press
Release Date : 2013-05-23
Handbook On Systemic Risk written by Jean-Pierre Fouque and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-23 with Business & Economics categories.
The Handbook on Systemic Risk, written by experts in the field, provides researchers with an introduction to the multifaceted aspects of systemic risks facing the global financial markets. The Handbook explores the multidisciplinary approaches to analyzing this risk, the data requirements for further research, and the recommendations being made to avert financial crisis. The Handbook is designed to encourage new researchers to investigate a topic with immense societal implications as well as to provide, for those already actively involved within their own academic discipline, an introduction to the research being undertaken in other disciplines. Each chapter in the Handbook will provide researchers with a superior introduction to the field and with references to more advanced research articles. It is the hope of the editors that this Handbook will stimulate greater interdisciplinary academic research on the critically important topic of systemic risk in the global financial markets.
Analysis Of Systemic Risk In The Payments System
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Author : Sujit Chakravorti
language : en
Publisher:
Release Date : 1996
Analysis Of Systemic Risk In The Payments System written by Sujit Chakravorti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Clearinghouses (Banking) categories.
Systemic Risk In The Financial Sector
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Author : Douglas W. Arner
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 2019-10-02
Systemic Risk In The Financial Sector written by Douglas W. Arner and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-02 with Political Science categories.
In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles worldwide. More than a decade after the worst year of the global financial crisis, what has been learned from its harsh lessons? Are governments and regulators more prepared for another financial system failure that would significantly affect the real economy? What may be the potential triggers for such a collapse to occur in the future? Systemic Risk in the Financial Sector: Ten Years after the Great Crash draws on some of the world's leading experts on financial stability and regulation to examine and critique the progress made since 2008 in addressing systemic risk. The book covers topics such as central banks and macroprudential policies; fintech; regulators' perspectives from the United States and the European Union; the logistical and incentive challenges that impede standardization and collection; clearing houses and systemic risk; optimal resolution and bail-in tools; and bank leverage, welfare and regulation. Drawing on experts across disciplines — including Howell Jackson, John Geanakoplos, Charles Goodhart, Anat Admati, Roberta Romano and Martin Hellwig — Systemic Risk in the Financial Sector is the definitive guide to understanding the global financial crisis, the safeguards being put into place to try to avoid similar crises in the future, and the limitations of those safeguards.
Systemic Risk Institutional Design And The Regulation Of Financial Markets
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Author : Anita Anand
language : en
Publisher: Oxford University Press
Release Date : 2016
Systemic Risk Institutional Design And The Regulation Of Financial Markets written by Anita Anand and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
A collection of essays from an impressive group of scholars, this volume disseminates the type of regulation that can be devised and implemented to respond to systemic risk as well as how systemic risk can be regulated in both a domestic and international market.
Quantifying Systemic Risk
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Author : Joseph G. Haubrich
language : en
Publisher: University of Chicago Press
Release Date : 2013-01-24
Quantifying Systemic Risk written by Joseph G. Haubrich and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-24 with Business & Economics categories.
In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.
Globalization And Systemic Risk
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Author : Douglas D Evanoff
language : en
Publisher: World Scientific
Release Date : 2009-01-05
Globalization And Systemic Risk written by Douglas D Evanoff and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-05 with Business & Economics categories.
The impact of globalization of financial markets is a highly debated topic, particularly in recent months when the issue of globalization and contagion of financial distress has become a focus of intense policy debate. The papers in this volume provide an up-to-date overview of the key issues in this debate. While most of the contributions were prepared after the initial outbreak of the current global turmoil and financial crisis, they identify the relative strengths of the risk diversification and risk transmission processes and examine the empirical evidence to date. The book considers the relative roles of banks, nonbank financial institutions and capital markets in both risk diversification and risk transmission. It then evaluates the current status of crisis resolution in a global context, and speculates where to go from here in terms of understanding, resolution, prevention and public policy.
Measuring Systemic Risk
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Author : Deyan Radev
language : en
Publisher: Springer Nature
Release Date : 2022-02-07
Measuring Systemic Risk written by Deyan Radev and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-07 with Technology & Engineering categories.
This book provides a comprehensive methodology to measure systemic risk in many of its facets and dimensions based on state-of-the-art risk assessment methods. Systemic risk has gained attention in the public eye since the collapse of Lehman Brothers in 2008. The bankruptcy of the fourth-biggest bank in the USA raised questions whether banks that are allowed to become “too big to fail” and “too systemic to fail” should carry higher capital surcharges on their size and systemic importance. The Global Financial Crisis of 2008-2009 was followed by the Sovereign Debt Crisis in the euro area that saw the first Eurozone government de facto defaulting on its debt and prompted actions at international level to stem further domino and cascade effects to other Eurozone governments and banks. Against this backdrop, a careful measurement of systemic risk is of utmost importance for the new capital regulation to be successful and for sovereign risk to remain in check. Most importantly, the book introduces a number of systemic fragility indicators for banks and sovereigns that can help to assess systemic risk and the impact of macroprudential and microprudential policies.