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Stress tests highlight a system’s weak spots. This second edition provides a stress testing of the United States by exploring in detail the background to the disasters of the War on Terror, Hurricane Katrina, the financial crisis, the Gulf oil spill and the COVID-19 epidemic. These major stresses—the country’s longest war, its biggest natural disaster, its biggest financial collapse since the Great Depression, its biggest oil spill and its worst pandemic since the influenza pandemic of 1918—tell us much about structural flaws in the United States. This book explores each of these events in detail to locate the seed of the disasters, and highlights what we have learned and not learned from these stress tests.
In this volume, the USA is treated as a system that has been stress-tested by four unique events: the War on Terror, Hurricane Katrina, the Financial Meltdown that led to the Great Recession and the Giant Oil Spill. The author uses stress-testing to identify weaknesses within the "system," and examine the response to disaster.
New York Times Bestseller Washington Post Bestseller Los Angeles Times Bestseller Stress Test is the story of Tim Geithner’s education in financial crises. As president of the Federal Reserve Bank of New York and then as President Barack Obama’s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with unimaginably high stakes—helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one won’t be the last. Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firm’s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administration’s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europe’s repeated flirtations with the economic abyss. Secretary Geithner is not a politician, but he has things to say about politics—the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political and financial systems.
Author : Dennis A. Tighe,Bryon A. Gentile Publisher : John Wiley & Sons Page : 438 pages File Size : 42,8 Mb Release : 2019-11-25 Category : Medical ISBN : 9781119481775
Pocket Guide to Stress Testing by Dennis A. Tighe,Bryon A. Gentile Pdf
The go-to handbook for those performing and analysing cardiac stress tests The stress test is key to the clinical evaluation and management of patients with known or potential cardiovascular disease. By measuring the heart's ability to respond to external stress, it can provide vital insights into the general physical condition of patients, highlighting abnormalities in blood flow, risk of coronary artery disease, and more. The Pocket Guide to Stress Testing gives cardiology professionals a complete breakdown of this everyday procedure that they can carry with them and consult on the go. This second edition has been fully revised to reflect the most up-to-date information available on the best approaches to conducting and interpreting various forms of stress test. With chapters spanning topics such as testing guidelines, nuclear imaging techniques, and emergency and aftercare protocols, the clear and practical contents cover all aspects of the subject. This essential new text includes: A complete overview of exercise stress testing, covering indications, protocols, preparation, and interpretation Guidelines for the standard treadmill test, as well as for the various pharmacological stress tests for patients unable to complete an exercise ECG test An extensive list of references and reading suggestions to help trainees to expand their knowledge End-of-chapter summaries and new tables and illustrations As the field of cardiology continues to change and develop apace, this new edition of The Pocket Guide to Stress Testing provides physicians, trainee cardiologists, and cardiac nurses with a reliable, up-to-date resource for use in everyday practice.
The Stress Test Every Business Needs by Jeffrey R. Greene,Steve Krouskos,Julie Hood,Harsha Basnayake,William Casey Pdf
Future-proof your business today for stronger performance tomorrow The Stress Test Every Business Needs: A Capital Agenda for Confidently Facing Digital Disruption, Difficult Investors, Recessions and Geopolitical Threats provides a comprehensive approach to creating value and flexibility in an increasingly volatile business environment that presents both great risks and opportunities every day. The authors extend the banking “stress test” concept to a company’s Capital Agenda — how executives manage capital, execute transactions and apply corporate finance tools to strategic and operational decisions. Having a static Capital Agenda, however appropriate for your current market position, is not enough in today's uncertain world. Long-term success comes from building resilience into each element and in the way those elements interact. The book uses a broader definition of business stress that includes traditional macroeconomic and geopolitical risks, as well as technological disruption, hostile takeovers and activist shareholders. Companies that make poor strategic decisions or underperform operationally will likely find themselves facing great stress. And that stress is symmetric; threats come from downside risks and from missed opportunities. The chapters address the how and why of essential issues such as: Formulating corporate strategy in a digital world Pre-empting activist shareholders Restoring distressed companies to operational and financial health Ensuring effective collaboration among strategy, finance and operations Getting the most out of your advisors Proactively managing intrinsic value Rigorously allocating capital across the enterprise Acquiring and divesting for optimum value Syncing financing decisions with business strategy and capital market conditions Incorporating tax planning throughout the Capital Agenda Liberating excess cash with leading working capital management practices Aligning strategic goals and metrics to reach your company’s full potential Companies that develop strategy and set operational priorities with a balanced Capital Agenda are best positioned to control their own destiny. The Stress Test Every Business Needs provides a roadmap to future-proof your business today for stronger performance tomorrow.
Database Benchmarking and Stress Testing by Bert Scalzo Pdf
Provide evidence-based answers that can be measured and relied upon by your business. Database administrators will be able to make sound architectural decisions in a fast-changing landscape of virtualized servers and container-based solutions based on the empirical method presented in this book for answering “what if” questions about database performance. Today’s database administrators face numerous questions such as: What if we consolidate databases using multitenant features? What if we virtualize database servers as Docker containers? What if we deploy the latest in NVMe flash disks to speed up IO access? Do features such as compression, partitioning, and in-memory OLTP earn back their price? What if we move our databases to the cloud? As an administrator, do you know the answers or even how to test the assumptions? Database Benchmarking and Stress Testing introduces you to database benchmarking using industry-standard test suites such as the TCP series of benchmarks, which are the same benchmarks that vendors rely upon. You’ll learn to run these industry-standard benchmarks and collect results to use in answering questions about the performance impact of architectural changes, technology changes, and even down to the brand of database software. You’ll learn to measure performance and predict the specific impact of changes to your environment. You’ll know the limitations of the benchmarks and the crucial difference between benchmarking and workload capture/reply. This book teaches you how to create empirical evidence in support of business and technology decisions. It’s about not guessing when you should be measuring. Empirical testing is scientific testing that delivers measurable results. Begin with a hypothesis about the impact of a possible architecture or technology change. Then run the appropriate benchmarks to gather data and predict whether the change you’re exploring will be beneficial, and by what order of magnitude. Stop guessing. Start measuring. Let Database Benchmarking and Stress Testing show the way. What You'll LearnUnderstand the industry-standard database benchmarks, and when each is best used Prepare for a database benchmarking effort so reliable results can be achieved Perform database benchmarking for consolidation, virtualization, and cloud projects Recognize and avoid common mistakes in benchmarking database performanceMeasure and interpret results in a rational, concise manner for reliable comparisonsChoose and provide advice on benchmarking tools based on their pros and cons Who This Book Is For Database administrators and professionals responsible for advising on architectural decisions such as whether to use cloud-based services, whether to consolidate and containerize, and who must make recommendations on storage or any other technology that impacts database performance
Michael Eichhorn,Tiziano Bellini,Daniel Mayenberger
Author : Michael Eichhorn,Tiziano Bellini,Daniel Mayenberger Publisher : Walter de Gruyter GmbH & Co KG Page : 483 pages File Size : 54,8 Mb Release : 2021-05-10 Category : Business & Economics ISBN : 9783110644951
Reverse Stress Testing in Banking by Michael Eichhorn,Tiziano Bellini,Daniel Mayenberger Pdf
Reverse stress testing was introduced in risk management as a regulatory tool for financial institutions more than a decade ago. The recent Covid-19 crisis illustrates its relevance and highlights the need for a systematic re-thinking of tail risks in the banking sector. This book addresses the need for practical guidance describing the entire reverse stress testing process. Reverse Stress Testing in Banking features contributions from a diverse range of established practitioners and academics. Organized in six parts, the book presents a series of contributions providing an in-depth understanding of: Regulatory requirements and ways to address them Quantitative and qualitative approaches to apply reverse stress testing at different levels – from investment portfolios and individual banks to the entire banking system The use of artificial intelligence, machine learning and quantum computing to gain insights into and address banks’ structural weaknesses Opportunities to co-integrate reverse stress testing with recovery and resolution planning Governance and processes for board members and C-suite executives Readers will benefit from the case studies, use cases from practitioners, discussion questions, recommendations and innovative practices provided in this insightful and pioneering book.
The College Stress Test by Robert Zemsky,Susan Shaman,Susan Campbell Baldridge Pdf
Those interested in and responsible for the fate of these institutions will find in this book a clearly defined set of risk indicators, a methodology for monitoring progress over time, and an evidence-based understanding of where they reside in the landscape of institutional risk.
Stress Testing at the IMF by Mr.Tobias Adrian,Mr.James Morsink,MissLiliana B Schumacher Pdf
This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps of an IMF staff stress test. They are followed by a discussion on how IMF staff uses stress tests results for policy advice. The paper concludes by identifying remaining challenges to make stress tests more useful for the monitoring of financial stability and an overview of IMF staff work program in that direction. Stress tests help assess the resilience of financial systems in IMF member countries and underpin policy advice to preserve or restore financial stability. This assessment and advice are mainly provided through the Financial Sector Assessment Program (FSAP). IMF staff also provide technical assistance in stress testing to many its member countries. An IMF macroprudential stress test is a methodology to assess financial vulnerabilities that can trigger systemic risk and the need of systemwide mitigating measures. The definition of systemic risk as used by the IMF is relevant to understanding the role of its stress tests as tools for financial surveillance and the IMF’s current work program. IMF stress tests primarily apply to depository intermediaries, and, systemically important banks.
Stress Testing in Sub-Saharan Africa by Mindaugas Leika,Hector Perez-Saiz,Ms.Olga Ilinichna Stankova,Torsten Wezel Pdf
The paper finds that supervisory stress tests are conducted in more than half of sub-Saharan African countries, particularly in western and southern Africa, and that the number of individual stress tests has grown exponentially since the early 2010s. By contrast, few central banks publish assessments of macro-financial linkages; the focus leans more toward discussing trends and weaknesses within the financial sector than on outside risks that may negatively affect its performance.
The Basel II Risk Parameters by Bernd Engelmann,Robert Rauhmeier Pdf
The estimation and the validation of the Basel II risk parameters PD (default probability), LGD (loss given fault), and EAD (exposure at default) is an important problem in banking practice. These parameters are used on the one hand as inputs to credit portfolio models and in loan pricing frameworks, on the other to compute regulatory capital according to the new Basel rules. This book covers the state-of-the-art in designing and validating rating systems and default probability estimations. Furthermore, it presents techniques to estimate LGD and EAD and includes a chapter on stress testing of the Basel II risk parameters. The second edition is extended by three chapters explaining how the Basel II risk parameters can be used for building a framework for risk-adjusted pricing and risk management of loans.
March Madness in Wall Street by Marcelo Fernandes,Ms.Deniz Igan,Marcelo Pinheiro Pdf
Annual stress tests have become a regular part of the supervisors’ toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.
Stress Testing Financial Systems by Mr.Matthew T Jones,Mr.Paul Louis Ceriel Hilbers Pdf
Stress testing is becoming a widely used tool to assess potential vulnerabilities in a financial system. This booklet is intended to answer some of the basic questions that may arise as part of the process of stress testing. The pamphlet begins with a discussion of stress testing in a financial system context, highlighting some of the differences between stress tests of systems and of individual portfolios. The booklet provides an overview of the process itself, from identifying vulnerabilities, to constructing scenarios, to interpreting the results. The experience of the IMF in conducting stress testing as part of the Financial Sector Assessment Program (FSAP) is also discussed.
Myrvin H. Ellestad,Ronald H. Startt Selvester,Fred S. Mishkin
Author : Myrvin H. Ellestad,Ronald H. Startt Selvester,Fred S. Mishkin Publisher : Oxford University Press, USA Page : 561 pages File Size : 40,5 Mb Release : 2003 Category : Medical ISBN : 9780195159288
Stress Testing by Myrvin H. Ellestad,Ronald H. Startt Selvester,Fred S. Mishkin Pdf
From reviews of previous editions: "This remains...the best book to buy on the subject of exercise testing...an excellent book aimed at general physicians and cardiologists...recommended with enthusiasm."--International Journal of Cardiology "This book is to be recommended to all physicians who use exercise testing as a diagnostic or rehabilitation procedure..."--Cardiology in Practice "This is an excellent and detailed text describing the principles and practice of stress testing...I highly recommend this book for anyone involved in non-invasive cardiology."--The Journal of Cardiovascular and Pulmonary Technology "The author's style is to be lauded...(He) states clearly the absolute, relative, and contraindications to stress testing...highly recommended."--Arch Phys Med Rehabil "I highly recommend this text as a well-written, integrated collection on current research, pathophysiology, and clinical applications."--Physical Therapy Although the general format of Stress Testing has not been changed in the Fifth Edition, the chapters have been thoroughly revised and updated. "Take Home" messages are sprinkled throughout the book to emphasize major concepts. The chapter on electrocardiographic changes has been completely re-organized to highlight the importance of unconventional markers of ischemia. Two new chapters cover the role of exercise echocardiography and exercise testing in congestive heart failure. Overall, Stress Testing, Fifth Edition, remains an essential resource for cardiologists and exercise physiologists.