9780199544493

Systemic Risk The Dynamics of Modern Financial Systems

  • ISBN 13:

    9780199544493

  • ISBN 10:

    0199544492

  • Format: Hardcover
  • Copyright: 05/19/2013
  • Publisher: Oxford University Press

Note: Not guaranteed to come with supplemental materials (access cards, study guides, lab manuals, CDs, etc.)

Extend Your Rental at Any Time

Need to keep your rental past your due date? At any time before your due date you can extend or purchase your rental through your account.

Rental Options

List Price $112.00 Save

Free Shipping Free Shipping On Every Order
Usually Ships in 3-5 Business Days

Summary

This book 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 the hoarding of funds and the firesale of assets by banks. The 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 of the globalfinancial 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.

Table of Contents

Read more

Write a Review