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"New Directions for Understanding Systemic Risk" ed. by John Kambhu, Scott Weidman, and Neel Krishnan

Posted By: exLib
"New Directions for Understanding Systemic Risk" ed. by John Kambhu, Scott Weidman, and Neel Krishnan

"New Directions for Understanding Systemic Risk" ed. by John Kambhu, Scott Weidman, and Neel Krishnan
A Report on a Conference Cosponsored by the Federal Reserve Bank of New York and the National Academy of Sciences
NASPress | 2007 | ISBN: 0309107520 9780309107525 | 121 pages | PDF | 5 MB

The book presents an examination of tools used in ecology and engineering to study systemic collapse in those areas; a review of current trends in economic research on systemic risk, the payments system, and the market of interbank funds; and for context, descriptions of how systemic risk in the financial system affects trading activities.

Contents
1 INTRODUCTION
Transitioning from a Bank-Based to a Market-Based Financial System
Systemic Risk as a Generic Problem
Systemic Risk in the Financial System
Systemic Risk and Regulation
The Roles of Policymakers
Systemic Risk in Historical Perspective: The Events of 1998
Analytical Issues
References
2 CURRENT TRENDS IN ECONOMIC RESEARCH ON SYSTEMIC RISK
Wealth Transfers and Portfolio Constraints
Risk and Liquidity in a System Context
Market Liquidity and Funding Liquidity
Discussion
References
3 SYSTEMIC RISK IN ECOLOGY AND ENGINEERING
Useful Concepts from Ecology and Engineering
Methodologies for Prediction and Management
Risk Assessment of Extreme Events Involving National Security
Prediction and Management of Systemic Failure in the Electric Grid
Analogies in Economics and Finance
Discussion
References
4 THE PAYMENTS SYSTEM AND THE MARKET FOR INTERBANK FUNDS
Systemic Dynamics in the Federal Funds Market
Network-Based Modeling of Systemic Risk in the Interbank Payments System,
Discussion
References
5 CONCLUDING OBSERVATIONS
Risk Assessment
Modeling, Prediction, and Management
Potential Applications to Policy
Reference
APPENDIXES
A Conference Program
B Background Paper
C About the Rapporteurs
with TOC BookMarkLinks