Systemic Risk

Systemic Risk: History, Measurement and Regulation presents an overview of this emerging form of risk from a global perspective. Systemic risks endanger entire financial systems, not just individual financial institutions. In this volume, the authors review how systemic risk has evolved over the last 40 years across continents to come to the forefront of regulatory attention. They then discuss transmissions channels, provide a review of systemic risk measures, and describe new regulations that have been introduced, as well as the theory and practice of financial stability committees that have been set up internationally. Overall, the book provides a practical guide to understand, identify, assess and control systemic risk.

While the financial research on systemic risk has strongly increased since the events of 2008, this book is a first in providing a detailed yet concise overview of the topic, covering the history of systemic risk, its measurement, and its regulation. The authors provide both academic and practitioner-oriented insights, and draw on their different regions of expertise to provide a global perspective on systemic risk.
Contents: History:Major Systemic Crises Across Continents at the End of the 20th CenturyMajor Systemic Crises in the 21st CenturyCommon Features in the History of Systemic CrisesMeasurement:Defining Systemic RiskCharacterizing Systemic RiskMain Systemic Risk MeasuresSystemic Risk Around the WorldRegulation:Justifying Prudential RegulationPrudential PerspectivesInstitutional Frameworks for Financial Stability
Readership: Graduate and research level students and practitioners of financial mathematics and risk. Systemic Risk;Financial Stability;Financial Regulation;Macro-Prudential Regulation;Transmission Channels;Global Financial Crisis;Risk Measurement;Cross-sectional Risk0Key Features:A practical guide to understand, identify, assess and control systemic riskA global perspectiveA detailed treatment of theory, practice and regulation