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E-CARGO and Role-Based Collaboration
E-CARGO and Role-Based Collaboration A model for collaboratively solving complex problems E-CARGO and Role-Based Collaboration offers a unique guide that explains the nature of collaboration, explores an easy-to-follow process of collaboration, and defines a model to solve complex problems in collaboration and complex systems. Written by a noted expert on the topic, the book initiates the study of an effective collaborative system from a novel perspective. The role-based collaboration (RBC) methodology investigates the most important aspects of a variety of collaborative systems including societal-technical systems. The models and algorithms can also be applied across system engineering, pro...
Assessing the Systemic Risk of a Heterogeneous Portfolio of Banks During the Recent Financial Crisis
This paper extends the approach of measuring and stress-testing the systemic risk of a banking sector in Huang, Zhou, and Zhu (2009) to identifying various sources of financial instability and to allocating systemic risk to individual financial institutions. The systemic risk measure, defined as the insurance cost to protect against distressed losses in a banking system, is a summary indicator of market perceived risk that reflects expected default risk of individual banks, risk premia as well as correlated defaults. An application of our methodology to a portfolio of twenty-two major banks in Asia and the Pacific illustrates the dynamics of the spillover effects of the global financial crisis to the region. The increase in the perceived systemic risk, particularly after the failure of Lehman Brothers, was mainly driven by the heightened risk aversion and the squeezed liquidity. Further analysis, which is based on our proposed approach to quantifying the marginal contribution of individual banks to the systemic risk, suggests that 'too-big-to-fail' is a valid concern from a macroprudential perspective of bank regulation.
Handbook on Systemic Risk
The Handbook on Systemic Risk, written by experts in the field, provides researchers with an introduction to the multifaceted aspects of systemic risks facing the global financial markets. The Handbook explores the multidisciplinary approaches to analyzing this risk, the data requirements for further research, and the recommendations being made to avert financial crisis. The Handbook is designed to encourage new researchers to investigate a topic with immense societal implications as well as to provide, for those already actively involved within their own academic discipline, an introduction to the research being undertaken in other disciplines. Each chapter in the Handbook will provide researchers with a superior introduction to the field and with references to more advanced research articles. It is the hope of the editors that this Handbook will stimulate greater interdisciplinary academic research on the critically important topic of systemic risk in the global financial markets.
The Industrial Organization of Banking
This book provides an evaluation of the industrial organization of banking with a focus on the interrelationship among bank behavior, market structure, and regulation. It addresses a wide range of public policy topics, including bank competition and risk, international banking, antitrust issues, and capital regulation. New to this edition, which has been updated throughout, is a broadened consideration of alternative theories of competition among banks, which includes discussions of such issues as the implications of large increases in bank reserve holdings in recent years, effects of nonprice competition through quality rivalry, analysis of mixed market structures involving both large and small banks, and international interactions of banks and policymakers. The intent of the book is to serve as a learning tool and reference for graduate students, academics, bankers, and policymakers seeking to better understand the industrial organization of the banking sector and the effects of banking regulations.
Emerging Trends in Intelligent Systems & Network Security
This book covers selected research works presented at the fifth International Conference on Networking, Information Systems and Security (NISS 2022), organized by the Research Center for Data and Information Sciences at the National Research and Innovation Agency (BRIN), Republic of Indonesia, and Moroccan Mediterranean Association of Sciences and Sustainable Development, Morocco, during March 30–31, 2022, hosted in online mode in Bandung, Indonesia. Building on the successful history of the conference series in the recent four years, this book aims to present the paramount role of connecting researchers around the world to disseminate and share new ideas in intelligent information systems...
The Economics, Regulation, and Systemic Risk of Insurance Markets
Pt. 1. The economics of insurance and the macroeconomic role of insurance -- What is insurance and how does it differ from general finance? / Christian Thimann -- The macroeconomic role of insurance / Denis Kessler, Amélie de Montchalin, and Christian Thimann -- How the insurance industry manages risk / Denis Duverne and John Hele -- pt. 2. Financial stability and the possibilities of systemic risk -- Risks of life insurers : recent trends and transmission mechanisms / Ralph S.J. Koijen and Motohiro Yogo -- Measuring systemic risk for insurance companies / Viral V. Acharya, Thomas Philippon, and Matthew Richardson -- Measuring interest rate risk in the life insurance sector : the U.S. and t...
Systemic Risk, Crises, and Macroprudential Regulation
A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes macroprudential tools, and surveys the effectiveness of existing macroprudential regulation. The recent financial crisis has shattered all standard approaches to banking regulation. Regulators now recognize that banking regulation cannot be simply based on individual financial institutions' risks. Instead, systemic risk and macroprudential regulation have come to the forefront of the new regulatory paradigm. Yet our knowledge of these two core aspects of regulation is still limited and fragmented. This book offers a framework for understanding the reasons for the regulatory shift from ...
A Guide to IMF Stress Testing
The IMF has had extensive involvement in the stress testing of financial systems in its member countries. This book presents the methods and models that have been developed by IMF staff over the years and that can be applied to the gamut of financial systems. An added resource for readers is the companion CD-Rom, which makes available the toolkit with some of the models presented in the book (also located at elibrary.imf.org/page/stress-test-toolkit).
Credit Constraints, Financial Liberalisation and Twin Crises
This paper proposes a continuous-time framework that explains some stylised facts in recent 'twin crises' episodes. I show that access to the world capital market enables the domestic economy to achieve a more efficient allocation of resources. However, the banking sector becomes more fragile when this international borrowing is wealth-constrained. A temporary shock is amplified and becomes persistent due to the interaction between the value of bank assets and the borrowing constraint. Depending on the exchange rate regime arrangement and the policy of the central bank, this financial fragility can evolve into a banking crisis, a currency crisis, or the simultaneous occurrence of both.
