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Author : PricewaterhouseCoopers
Publisher : Unknown
Page : 320 pages
File Size : 52,6 Mb
Release : 2001
Category : Business & Economics
ISBN : 0970653506
Author : David Lynch,Iftekhar Hasan,Akhtar Siddique
Publisher : Cambridge University Press
Page : 489 pages
File Size : 48,5 Mb
Release : 2022-12-31
Category : Business & Economics
ISBN : 9781108756488
Financial models are an inescapable feature of modern financial markets. Yet it was over reliance on these models and the failure to test them properly that is now widely recognized as one of the main causes of the financial crisis of 2007–2011. Since this crisis, there has been an increase in the amount of scrutiny and testing applied to such models, and validation has become an essential part of model risk management at financial institutions. The book covers all of the major risk areas that a financial institution is exposed to and uses models for, including market risk, interest rate risk, retail credit risk, wholesale credit risk, compliance risk, and investment management. The book discusses current practices and pitfalls that model risk users need to be aware of and identifies areas where validation can be advanced in the future. This provides the first unified framework for validating risk management models.
Author : J.H.M. van Grinsven
Publisher : IOS Press
Page : 237 pages
File Size : 48,7 Mb
Release : 2009-05-25
Category : Business & Economics
ISBN : 9781607504207
Operational risk is possibly the largest threat to financial institutions. The operational risk that financial institutions face has become more complex, more potentially devastating and more difficult to anticipate. Moreover, operational risk management is an essential part of the economic activities and economic development in financial institutions. The credit crunch indicates once more that operational risk does not lend itself to traditional risk management approaches. This is because almost all instances of operational risk losses result from complex and nonlinear interactions among risk and business processes. Mainly motivated by regulatory pressure, the volatility of today’s marketplace and costly catastrophes many financial institutions focused their risk management efforts on operational risk management. In response to this, several initiatives have been taken to manage operational risk. However, due to difficulties with loss data, most of these initiatives focus on using expert judgment to provide the input to estimate the level of exposure to operational risk. Although these initiatives have helped financial institutions, the improvements which are made are not effective, efficient and satisfying. Therefore in this book the is focus on an alternative to improve operational risk management that is more effective, efficient and satisfying. A highly structured approach for operational risk management is prescribed and explained in this book. The approach can operate with scarce loss data and enables financial institutions to understand operational risk with a view to reducing it, thus reducing economic capital within the Basel II regulations.
Author : CME Group,John W. Labuszewski,John E. Nyhoff,Richard Co,Paul E. Peterson
Publisher : John Wiley & Sons
Page : 1253 pages
File Size : 50,9 Mb
Release : 2010-05-25
Category : Business & Economics
ISBN : 9780470634882
Praise for The CME Group Risk Management Handbook "Wow! The CME Group Risk Management Handbook is a 'ten strike' and long overdue. A must-read and reference for the risk management industry!" —Jack Sandner, retired chairman of CME Group, member of the Executive Committee "This is a powerful book for its integration of futures and options markets with an understanding of the whole economy. It is an eye-opener to see how central these markets are to our economic lives." —Robert J. Shiller, Okun Professor of Economics, Yale University; Chief Economist, MacroMarkets LLC "Risk management is essential to successful investing, and The CME Group Risk Management Handbook provides the essentials for understanding risk management. In the wake of the financial turmoil of the last few years, managing risk should be part of any investment program. Among the key elements of risk management are stock index, bond, currency, and commodity futures as well as a growing number of futures, options, swaps, and other financial instruments built on indices tracking housing prices, weather conditions, and the economy. The CME Group Risk Management Handbook offers a comprehensive guide for using all of these to better manage financial risks." —David M. Blitzer, PhD, Managing Director and Chairman of the Index Committee, S&P Indices "Dare we ignore the advice of a financial institution, the largest of its kind in the world, that navigated the recent financial crisis without the aid of a single TARP dollar or access to the Fed's cheap loans? For CME Group, risk management has meant risk minimization as it enters its 151st year of life and its 85th year of central counterparty clearing without a single trading debt unpaid. It has been, and continues to be, a leader by example." —Philip McBride Johnson, former CFTC chairman "For the first time, a comprehensive handbook outlining the futures market in today's world is available. The CME Group Risk Management Handbook covers futures basics for the novice trader, while the veterans will benefit from an in-depth look at options and hedging. This handbook is a necessity for any professional, investor, or other market participant seeking to manage risk in the perpetually changing futures market." —H. Jack Bouroudjian, CEO, Index Futures Group
Author : Peter Christoffersen
Publisher : Academic Press
Page : 346 pages
File Size : 43,6 Mb
Release : 2011-11-22
Category : Business & Economics
ISBN : 9780123744487
The Second Edition of this best-selling book expands its advanced approach to financial risk models by covering market, credit, and integrated risk. With new data that cover the recent financial crisis, it combines Excel-based empirical exercises at the end of each chapter with online exercises so readers can use their own data. Its unified GARCH modeling approach, empirically sophisticated and relevant yet easy to implement, sets this book apart from others. Five new chapters and updated end-of-chapter questions and exercises, as well as Excel-solutions manual, support its step-by-step approach to choosing tools and solving problems. Examines market risk, credit risk, and operational risk Provides exceptional coverage of GARCH models Features online Excel-based empirical exercises
Author : Graham Elliott,Allan Timmermann
Publisher : Elsevier
Page : 667 pages
File Size : 46,5 Mb
Release : 2013-08-23
Category : Business & Economics
ISBN : 9780444627407
The highly prized ability to make financial plans with some certainty about the future comes from the core fields of economics. In recent years the availability of more data, analytical tools of greater precision, and ex post studies of business decisions have increased demand for information about economic forecasting. Volumes 2A and 2B, which follows Nobel laureate Clive Granger's Volume 1 (2006), concentrate on two major subjects. Volume 2A covers innovations in methodologies, specifically macroforecasting and forecasting financial variables. Volume 2B investigates commercial applications, with sections on forecasters' objectives and methodologies. Experts provide surveys of a large range of literature scattered across applied and theoretical statistics journals as well as econometrics and empirical economics journals. The Handbook of Economic Forecasting Volumes 2A and 2B provide a unique compilation of chapters giving a coherent overview of forecasting theory and applications in one place and with up-to-date accounts of all major conceptual issues. Focuses on innovation in economic forecasting via industry applications Presents coherent summaries of subjects in economic forecasting that stretch from methodologies to applications Makes details about economic forecasting accessible to scholars in fields outside economics
Author : Andrew Holmes
Publisher : John Wiley & Sons
Page : 276 pages
File Size : 42,8 Mb
Release : 2004-08-13
Category : Business & Economics
ISBN : 9781841126180
We all know that the future is uncertain, but rather than make any attempt to actively manage our futures in a consistent way, we tend to make broadbrush assumptions based on common-sense and intuition alone. Successfully managing risk is a primary ingredient for success in a fast-paced environment where we are bombarded by the need to make critical decisions, often with little or no solid facts available and little insight into the likely outcomes. Smart Things to Know About Risk Management, in a step-by-step approach, shows the reader what is risk management and why it matters, the categories of risk, how to achieve the right balance of risk, knowing your risk appetite, how to actively manage your risks and develop a risk culture and techniques, tools and models for managing risk. Case studies are also included. * Perfect for the SMART treatment - this book starts from basics, assumes no prior knowledge and gives a step-by-step approach. * Step-by-step approach. Covers the background to risk and risk management as well as practical application and techniques, tools and models for managing risk. * Written by a highly experienced practitioner with a formidable working knowledge in this area.
Author : Wang, Jue,Wang, Shouyang
Publisher : IGI Global
Page : 406 pages
File Size : 45,7 Mb
Release : 2010-06-30
Category : Computers
ISBN : 9781615206308
With the rapid development of economic globalization and information technology, the field of economic forecasting continues its expeditious advancement, providing business and government with applicable technologies. This book discusses various business intelligence techniques including neural networks, support vector machine, genetic programming, clustering analysis, TEI@I, fuzzy systems, text mining, and many more. It serves as a valuable reference for professionals and researchers interested in BI technologies and their practical applications in economic forecasting, as well as policy makers in business organizations and governments.
Author : Alberto Troccoli,Mike Harrison,David L.T. Anderson,Simon J. Mason
Publisher : Springer Science & Business Media
Page : 467 pages
File Size : 55,7 Mb
Release : 2008-01-29
Category : Science
ISBN : 9781402069925
Originally formed around a set of lectures presented at a NATO Advanced Study Institute (ASI), this book has grown to become organised and presented rather more as a textbook than as a standard "collection of proceedings". This therefore is the first unified reference ‘textbook’ in seasonal to interannual climate predictions and their practical uses. Written by some of the world’s leading experts, the book covers a rapidly-developing science of prime social concern.
Author : Anonim
Publisher : Unknown
Page : 712 pages
File Size : 43,6 Mb
Release : 2003
Category : Risk management
ISBN : CORNELL:31924087462168
Author : Mark Taylor
Publisher : Routledge
Page : 129 pages
File Size : 55,9 Mb
Release : 2014-06-11
Category : Business & Economics
ISBN : 9781317978503
This volume is dedicated to the memory and the achievements of Professor Sir Clive Granger, economics Nobel laureate and one of the great econometricians and applied economists of the twentieth and early twenty-first centuries. It comprises contributions from leading econometricians and applied economists who knew Sir Clive and interacted with him over the years, and who wished to pay tribute to him as both a great economist and econometrician, and as a great man. This book was originally published as a special issue of Applied Financial Economics.
Author : Linda Courtenay Botterill,Geoff Cockfield
Publisher : CRC Press
Page : 226 pages
File Size : 46,9 Mb
Release : 2013-01-28
Category : Nature
ISBN : 9781439876503
Australia and the United States face very similar challenges in dealing with drought. Both countries cover a range of biophysical conditions, both are federations that provide considerable responsibility to state governments for water and land management, and both face the challenges in balancing rural industry and urban development, especially in relation to the allocation of water. Yet there are critical differences in their approaches to drought science and policy. Drought, Risk Management, and Policy: Decision Making under Uncertainty explores the complex relationship between scientific research and decision making with respect to drought in Australia and the United States. Risk Management, not Crisis Management Drawing on the work of respected academic researchers and policy practitioners, the book discusses the issues associated with decision making under uncertainty and the perspectives, needs, and expectations of scientists, policy makers, and resource users. Starting from the position that drought is a risk to be managed, it considers the implications of the predicted impacts of future climate change. The book also examines the policy responses to these challenges and the role of scientific input into the policy process. Contributors look at drought risk management in action and how end users in the community incorporate drought science into their decision making. The book concludes with lessons learned about science, policy, and managing uncertainty. Get Insight into the Relationship between Science and Policy—and How to Turn That into More Effective Decision Making Throughout, the contributors identify possible reasons for differences in the use and application of drought sciences and approach to policy between the two countries, offering valuable insight into the relationship between scientific advice and the policy process. They also highlight the challenges faced at the science–policy interface. Crossing international borders and disciplinary boundaries, this timely collection tackles drought policy development as part of the broader discussion about climate change. Although the focus is on Australia and the United States, many of the lessons learned are relevant for any country dealing with drought.
Author : Cheng-Few Lee,John Lee
Publisher : Springer Science & Business Media
Page : 1700 pages
File Size : 41,9 Mb
Release : 2010-06-14
Category : Business & Economics
ISBN : 9780387771175
Quantitative finance is a combination of economics, accounting, statistics, econometrics, mathematics, stochastic process, and computer science and technology. Increasingly, the tools of financial analysis are being applied to assess, monitor, and mitigate risk, especially in the context of globalization, market volatility, and economic crisis. This two-volume handbook, comprised of over 100 chapters, is the most comprehensive resource in the field to date, integrating the most current theory, methodology, policy, and practical applications. Showcasing contributions from an international array of experts, the Handbook of Quantitative Finance and Risk Management is unparalleled in the breadth and depth of its coverage. Volume 1 presents an overview of quantitative finance and risk management research, covering the essential theories, policies, and empirical methodologies used in the field. Chapters provide in-depth discussion of portfolio theory and investment analysis. Volume 2 covers options and option pricing theory and risk management. Volume 3 presents a wide variety of models and analytical tools. Throughout, the handbook offers illustrative case examples, worked equations, and extensive references; additional features include chapter abstracts, keywords, and author and subject indices. From "arbitrage" to "yield spreads," the Handbook of Quantitative Finance and Risk Management will serve as an essential resource for academics, educators, students, policymakers, and practitioners.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher : Unknown
Page : 260 pages
File Size : 47,5 Mb
Release : 2004
Category : Business & Economics
ISBN : PURD:32754075288930
Author : Lawrence A. Kapustka,Wayne G. Landis
Publisher : John Wiley & Sons
Page : 431 pages
File Size : 46,6 Mb
Release : 2010-07-15
Category : Technology & Engineering
ISBN : 9780470593011
An important guide to assessing and managing the environment from a landscape perspective Ecological relationships are nested within the landscape. Identifying the relevant spatial and temporal scales is critical for an effective understanding of ecological functions that human societies depend upon. Moreover, human encroachment into natural areas, or changes in climate, can alter spatial relationships, which in turn can negatively affect vital plant and wildlife patterns—and weaken economic structures needed to sustain human societies. This book is the first to combine multiple disciplines into one cohesive strategy to study these crucial connections, and looks toward building a social paradigm that embraces the dynamics of ecological systems. This book: Integrates landscape ecology, environmental risk assessment, valuation of ecological goods and services, and environmental management decision processes into one single source Includes chapters on quantitative measures, Bayesian modeling,¿economic analysis, and sustainable landscapes Covers marine, forest, agricultural, and pharmaceutical risk assessment Has a chapter on predicting climate change risk to ecosystems Has a companion ftp site with color graphics, animations, and risk assessment tools With material that is accessible across all knowledge levels, Environmental Risk Assessment and Management from a Landscape Perspective moves beyond looking solely at chemical contaminants to diagnose environmental threats, and aims to accomplish practical risk assessment in a manner that supports long-term sustainable management.