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Author: National Research Council
Publisher: National Academies Press
ISBN: 0309107520
Category : Political Science
Languages : en
Pages : 120
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Book Description
The stability of the financial system and the potential for systemic events to alter its function have long been critical issues for central bankers and researchers. Recent events suggest that older models of systemic shocks might no longer capture all of the possible paths of such disturbances or account for the increasing complexity of the financial system. To help assess these concerns, the Federal Reserve Bank of New York and the NRC cosponsored a conference that brought together engineers, scientists, economists, and financial market experts to promote better understanding of systemic risk in a variety of fields. The book presents an examination of tools used in ecology and engineering to study systemic collapse in those areas; a review of current trends in economic research on systemic risk, the payments system, and the market of interbank funds; and for context, descriptions of how systemic risk in the financial system affects trading activities.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309107520
Category : Political Science
Languages : en
Pages : 120
Get Book Here
Book Description
The stability of the financial system and the potential for systemic events to alter its function have long been critical issues for central bankers and researchers. Recent events suggest that older models of systemic shocks might no longer capture all of the possible paths of such disturbances or account for the increasing complexity of the financial system. To help assess these concerns, the Federal Reserve Bank of New York and the NRC cosponsored a conference that brought together engineers, scientists, economists, and financial market experts to promote better understanding of systemic risk in a variety of fields. The book presents an examination of tools used in ecology and engineering to study systemic collapse in those areas; a review of current trends in economic research on systemic risk, the payments system, and the market of interbank funds; and for context, descriptions of how systemic risk in the financial system affects trading activities.
Author: Charles Albert Eric Goodhart
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 46
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Book Description
Author: R.A. Logan
Publisher: IOS Press
ISBN: 161499790X
Category : Medical
Languages : en
Pages : 496
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Book Description
While health literacy is a relatively new multidisciplinary field, it is vital to the successful engagement with and communication of health with patients, caregivers, and the public. This book ‘New Directions in Health Literacy Research, Theory, and Practice’ provides an introduction to health literacy research and practice and highlights similar scholarship in related disciplines. The book is organized as follows: the first chapter explains the still-evolving definition of health literacy; the next three chapters discuss developments and new directions in health literacy research, then a further two chapters are devoted to developments and new directions in health literacy theory. Two chapters explore health literacy interventions for vulnerable populations; four chapters cover health literacy leadership efforts; six chapters describe developments and new directions in disciplines that are similar to health literacy; and six chapters portray diverse health literacy practices. A preface from Richard Carmona M.D., the former U.S. Surgeon General, is included in the book. Although the book is intended primarily for health literacy researchers, practitioners and students, the diverse topics and approaches covered will be of interest to all healthcare and public health researchers, practitioners, and students, as well as scholars in related fields, such as health communication, science communication, consumer health informatics, library science, health disparities, and mass communication. As Dr. Carmona concludes in his preface: ‘This is essential reading for all health practitioners.’
Author: Andreas R. Dombret
Publisher: Edward Elgar Publishing
ISBN: 1782547843
Category : Business & Economics
Languages : en
Pages : 556
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Book Description
ÔFinancial stability is necessary. To achieve this common target an on-going dialogue is required between industry, policymakers, academia and other relevant stakeholders. This book provides a welcome and refreshing perspective from different standpoints on the issues at stake, and reminds us of the remaining work ahead.Õ Ð Axel Weber, Chair of Supervisory Board, UBS ÔSince 2008, financial stability has moved to the center of the policy stage. This volume, combining contributions from leading policy makers and academics, is the essential introduction to the issues. Must reading.Õ Ð Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley, US ÔThere was a world BC (Before Crisis) and there will be a world AD (After Deleveraging) Ð the challenge is to create an effective, efficient yet stable and sustainable financial system for this Ònew worldÓ. This book provides the most comprehensive and thought-provoking basis for action I have seen so far.Õ Ð Paul Achleitner, Chair of Supervisory Board Deutsche Bank AG ÔFinancial stability is an overarching goal. In open and democratic societies, ensuring financial stability is a matter of interest not only to central bankers, academics and financial market players, but also to all well-informed citizens. This book provides an excellent basis for a wide-ranging and rewarding debate.Õ Ð Thomas J. Jordan, Chairman of the Governing Board of the Swiss National Bank ÔThe financial crisis demonstrated conclusively that for central bankers and other policymakers financial stability must always be of paramount concern, for without it the macroeconomy will perform badly and monetary policy will lose its effectiveness. This book underscores the importance of financial stability, laying out the key issues and what must be done to avoid such disasters in the future.Õ Ð William C. Dudley, President of the Federal Reserve Bank of New York, US In the aftermath of the financial crisis, new financial market regulation is being implemented, and increasing numbers of countries are establishing new legislation for macroprudential oversight. Against this backdrop, this thought provoking book provides a platform for the leading international experts to discuss and encourage future debate on financial stability. The breadth and scope of the issues addressed reflect the challenge of developing and consistently implementing a coherent set of financial reforms to promote financial stability. The book advocates the development of financial reforms that are effective in striking the optimal balance between realizing the enormous benefits of efficient financial intermediation, capital allocation and risk management on the one hand, and controlling systemic risks and maintaining financial stability on the other. Making an important contribution to deepening our understanding of the many facets of financial stability, this book will prove a challenging read for policy makers, regulators and central bankers as well as for researchers and scholars in the fields of economics, money, finance and banking.
Author: Mr.Andreas A. Jobst
Publisher: International Monetary Fund
ISBN: 1475557531
Category : Business & Economics
Languages : en
Pages : 93
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Book Description
The recent global financial crisis has forced a re-examination of risk transmission in the financial sector and how it affects financial stability. Current macroprudential policy and surveillance (MPS) efforts are aimed establishing a regulatory framework that helps mitigate the risk from systemic linkages with a view towards enhancing the resilience of the financial sector. This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market-implied expected losses of financial institutions with practical applications for the financial sector risk management and the system-wide capital assessment in top-down stress testing. The suggested approach uses advanced contingent claims analysis (CCA) to generate aggregate estimates of the joint default risk of multiple institutions as a conditional tail expectation using multivariate extreme value theory (EVT). In addition, the framework also helps quantify the individual contributions to systemic risk and contingent liabilities of the financial sector during times of stress.
Author: William Leiss
Publisher: University of Ottawa Press
ISBN: 0776619276
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
In the past two years, the world has experienced how unsound economic practices can disrupt global economic and social order. Today’s volatile global financial situation highlights the importance of managing risk and the consequences of poor decision making. The Doom Loop in the Financial Sector reveals an underlying paradox of risk management: the better we become at assessing risks, the more we feel comfortable taking them. Using the current financial crisis as a case study, renowned risk expert William Leiss engages with the new concept of “black hole risk” — risk so great that estimating the potential downsides is impossible. His risk-centred analysis of the lead-up to the crisis reveals the practices that brought it about and how it became common practice to use limited risk assessments as a justification to gamble huge sums of money on unsound economic policies. In order to limit future catastrophes, Leiss recommends international cooperation to manage black hole risks. He believes that, failing this, humanity could be susceptible to a dangerous nexus of global disasters that would threaten human civilization as we know it.
Author: Dariel De Sousa
Publisher: Taylor & Francis
ISBN: 1000683931
Category : Law
Languages : en
Pages : 237
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Book Description
Focusing on systemic risks caused by climate change, this book examines how these risks can be effectively regulated to ensure resilience and avoid catastrophe. Systemic risks are risks that threaten the systems upon which society depends, including ecosystems, social systems, financial systems, and systems of infrastructure. Such risks are typically characterised by inherent complexity, profound uncertainty, and overwhelming ambiguity. In combination, these features pose significant regulatory challenges for policy and law-makers. Examining how different types of systemic risks caused by climate change are being regulated in four different jurisdictions – the EU, the UK, the US and Australia – this book identifies deficiencies associated with regulating systemic risks using a traditional approach, based on a linear relationship between risk and regulation, which is widely used to regulate risk. The book advances a regulatory approach that is, instead, founded on the concept of "risk governance". This involves a structured yet flexible, holistic, interdisciplinary and inclusive basis for responding to systemic risks; and it is, this book argues, a more effective basis for regulating systemic risks given their uncertainty, complexity and ambiguity. This book will appeal to academics, policy and law-makers and practitioners working at the intersection of law and policy in the areas of regulation, risk management and climate change.
Author: John G. Voeller
Publisher: John Wiley & Sons
ISBN: 0471761303
Category : Science
Languages : en
Pages : 2950
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Book Description
The Wiley Handbook of Science and Technology for Homeland Security is an essential and timely collection of resources designed to support the effective communication of homeland security research across all disciplines and institutional boundaries. Truly a unique work this 4 volume set focuses on the science behind safety, security, and recovery from both man-made and natural disasters has a broad scope and international focus. The Handbook: Educates researchers in the critical needs of the homeland security and intelligence communities and the potential contributions of their own disciplines Emphasizes the role of fundamental science in creating novel technological solutions Details the international dimensions of homeland security and counterterrorism research Provides guidance on technology diffusion from the laboratory to the field Supports cross-disciplinary dialogue in this field between operational, R&D and consumer communities
Author: Kerm Henriksen
Publisher:
ISBN:
Category : Medical
Languages : en
Pages : 526
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Book Description
v. 1. Research findings -- v. 2. Concepts and methodology -- v. 3. Implementation issues -- v. 4. Programs, tools and products.
Author: Victor Galaz
Publisher: Edward Elgar Publishing
ISBN: 1788115422
Category : Political Science
Languages : en
Pages : 333
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Book Description
There is an increased interest in integrating insights from the complexity sciences to studies of governance and policy. While the issue has been debated, and the term of ‘complexity’ has multiple and sometimes contested interpretations, it is also clear the field has spurred a number of interesting theoretical and empirical efforts. The book includes key thinkers in the field, elaborates on different analytical approaches in studying governance, institutions and policy in the face of complexity, and showcases empirical applications and insights.
