Sir Paul Tucker is not shy about making an audience feel uncomfortable, Mark Harrison, CFA, observes. In fact, the crowd was rather ill at ease during Tucker's presentation at the 70th CFA Institute Annual Conference, and not just because the topic was systemic risk.
Nobel laureate Robert Engle discussed systemic risk in China and throughout the globe. His advice for investors? Treat credit risk as an important part of the investment decision-making process.
All the recent market scares have been driven by the same implied menace. Whether it’s another round of anxiety about Greece, another head fake by the US Federal Reserve on raising rates, or fears about China’s economy, investors appear to be nervous about a major correction, downturn, or crash. But what if the real danger were of a very different sort?
Now that the world's largest asset manager manages considerably more money than the world's largest bank, it's time to think about the potential for systemic risk.
Nobel laureate Robert Engle discusses the development of the ARCH model, the global financial crisis, systemic risk, and forecasting liquidity with ARCH models.
The global financial crisis revealed a critical need for a substantial reassessment of the fundamental workings of financial systems, their interactions with the real economy, and the circumstances that tip such systems from stability to instability. In this book, Prasanna Gai provides a fresh look at these increasingly important fields.
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