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Value-at-Risk has emerged as the standard tool for measuring and reporting financial market risk. Currently, more than eighty commercial vendors offer enterprise or trading risk management systems that provide VAR-like measures. Risk managers are therefore often left with the daunting task of having to choose from this plethora of risk measures. While basic VAR textbooks describe average VAR situations, the vast majority of these situations are abnormal. Elements of Financial Risk Management focuses on implementation, especially recent techniques which facilitate ""bridging the g

International financial management --- Financial risk management. --- Finance. --- Risk management. --- Insurance --- Management --- Funding --- Funds --- Economics --- Currency question --- Financial risk management --- 658.155 --- bedrijfsfinanciering --- econometrie --- mathematische modellen, toegepast op bedrijfsleven --- operations research --- opties --- risk management --- wiskundige statistiek --- Risk management

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Recognizing that robust decision making is vital in risk management, this book provides concepts and algorithms for computing the best decision in view of the worst-case scenario. The main tool used is minimax, which ensures robust policies with guaranteed optimal performance that will improve further if the worst case is not realized. The applications considered are drawn from finance, but the design and algorithms presented are equally applicable to problems of economic policy, engineering design, and other areas of decision making. Critically, worst-case design addresses not only Armageddon-type uncertainty. Indeed, the determination of the worst case becomes nontrivial when faced with numerous--possibly infinite--and reasonably likely rival scenarios. Optimality does not depend on any single scenario but on all the scenarios under consideration. Worst-case optimal decisions provide guaranteed optimal performance for systems operating within the specified scenario range indicating the uncertainty. The noninferiority of minimax solutions--which also offer the possibility of multiple maxima--ensures this optimality. Worst-case design is not intended to necessarily replace expected value optimization when the underlying uncertainty is stochastic. However, wise decision making requires the justification of policies based on expected value optimization in view of the worst-case scenario. Conversely, the cost of the assured performance provided by robust worst-case decision making needs to be evaluated relative to optimal expected values. Written for postgraduate students and researchers engaged in optimization, engineering design, economics, and finance, this book will also be invaluable to practitioners in risk management.

International financial management --- 519.83 --- 681.3*G16 --- Risk management --- -Algorithms --- 658.155 --- Algorism --- Algebra --- Arithmetic --- Insurance --- Management --- Theory of games --- Optimization: constrained optimization; gradient methods; integer programming; least squares methods; linear programming; nonlinear programming (Numericalanalysis) --- Mathematics --- Foundations --- 681.3*G16 Optimization: constrained optimization; gradient methods; integer programming; least squares methods; linear programming; nonlinear programming (Numericalanalysis) --- 519.83 Theory of games --- Risk --- Decision making --- Algorithms. --- Mathematical models. --- Algorithms --- Mathematical models

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Since the first edition, published in 1985, much new research has been completed. This updated version includes five new essays, including a new introduction by Eichengreen and a discussion of the gold standard and the EU monetary debate.

International finance --- AA / International- internationaal --- 333.421.1 --- 331.155 --- 331.156 --- 331.150 --- 333.421.4 --- Gold standard --- -332.422209 --- Fc2.f --- Exchange standard, Gold --- Gold exchange standard --- Standard, Gold --- Currency question --- Gold --- International liquidity --- Money --- Bimetallism --- Gouden standaard. --- Geldwezen in de XIXe eeuw tot 1914. --- Geldwezen van 1914 tot 1945. --- Geschiedenis van het geldwezen: algemeenheden. --- Gold exchange standard. --- History --- Gold standard. --- Business. --- Finance --- Business & Economics --- History. --- Gouden standaard --- Geldwezen in de XIXe eeuw tot 1914 --- Geldwezen van 1914 tot 1945 --- Geschiedenis van het geldwezen: algemeenheden --- -History

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Dealing with all aspects of risk management that have undergone significant innovation in recent years, this book aims at being a reference work in its field. Different to other books on the topic, it addresses the challenges and opportunities facing the different risk management types in banks, insurance companies, and the corporate sector. Due to the rising volatility in the financial markets as well as political and operational risks affecting the business sector in general, capital adequacy rules are equally important for non-financial companies. For the banking sector, the book emphasizes the modifications implied by the Basel II proposal. The volume has been written for academics as well as practitioners, in particular finance specialists. It is unique in bringing together such a wide array of experts and correspondingly offers a complete coverage of recent developments in risk management.

Finance --- Investments --- Risk assessment --- Risk management --- 658.155 --- 333.109 --- 333.130.2 --- 333.139.2 --- AA / International- internationaal --- Analysis, Risk --- Assessment, Risk --- Risk analysis --- Risk evaluation --- Evaluation --- Investing --- Investment management --- Portfolio --- Disinvestment --- Loans --- Saving and investment --- Speculation --- Funding --- Funds --- Economics --- Currency question --- Insurance --- Management --- Veiligheid. Bankovervallen. Bankrisico's --- Bankliquiditeit. Verplichte reserves. Solvabiliteit --- Bankcontrole en -reglementering. Reglementering van het bankberoep --- Finance. --- Investments. --- Risk assessment. --- Risk management. --- Dufey, Gunter. --- International financial management --- International finance --- Management. --- Finance, general. --- Quantitative Finance. --- Administration --- Industrial relations --- Organization --- Economics, Mathematical . --- Mathematical economics --- Econometrics --- Mathematics --- Methodology

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For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837.As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation's commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America's democratic experiment. Roberts explains how the country's woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.

US / United States of America - USA - Verenigde Staten - Etats Unis --- 331.100 --- 331.155 --- Economische geschiedenis: algemeenheden. --- Geldwezen in de XIXe eeuw tot 1914. --- Depressions --- Financial crises --- Crises économiques --- Crises financières --- History --- Histoire --- United States --- Etats-Unis --- Economic conditions --- Politics and government --- Conditions économiques --- Politique et gouvernement --- History of North America --- anno 1800-1899 --- Economische geschiedenis: algemeenheden --- Geldwezen in de XIXe eeuw tot 1914 --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Commercial crises --- Crises, Commercial --- Economic depressions --- Business cycles --- Recessions --- E-books --- United States of America