New Directions for Understanding Systemic Risk:

A Report on a Conference Cosponsored by the Federal Reserve Bank of New York and the National Academy of Sciences

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Size: 120 pages, 6x9

Publication Year:2007

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PAPERBACK ISBN-10: 0-309-10752-0 ISBN-13: 978-0-309-10752-5	$31.00	Add to Cart

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Authors:
John Kambhu, Scott Weidman, and Neel Krishnan, Rapporteurs, National Research Council
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Table of Contents
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Front Matter	i-xii
1 Introduction	1-19	(skim)
2 Current Trends in Economic Research on Systemic Risk	20-28	(skim)
3 Systemic Risk in Ecology and Engineering	29-54	(skim)
4 The Payments System and the Market for Interbank Funds	55-67	(skim)
5 Concluding Observations	68-76	(skim)
Appendixes	77-78	(skim)
Appendix A: Conference Program	79-81	(skim)
Appendix B: Background Paper	82-106	(skim)
Appendix C: About the Rapporteurs	107-108	(skim)

Description

The stability of the financial system and the potential for systemic events to alter its function have long been critical issues for central bankers and researchers. Recent events suggest that older models of systemic shocks might no longer capture all of the possible paths of such disturbances or account for the increasing complexity of the financial system. To help assess these concerns, the Federal Reserve Bank of New York and the NRC cosponsored a conference that brought together engineers, scientists, economists, and financial market experts to promote better understanding of systemic risk in a variety of fields. 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.

New Directions for Understanding Systemic Risk:

A Report on a Conference Cosponsored by the Federal Reserve Bank of New York and the National Academy of Sciences

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