Systemic Risk

Systemic Risk
Nettpris
Nettpris
279,- 279,-
Førpris 349,- Spar 70,-
Førpris 349,- Spar 70,-
E-Bok
Format E-Bok
Kopisperre Teknisk DRM
Filformat PDF
Utgivelsesår 2013
Forlag OUP Oxford
Språk Engelsk
ISBN 9780191654060
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Om Systemic Risk

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 thehoarding 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 ofthe 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.


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