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Risk Management in Turbulent Times
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Risk Management in Turbulent Times

Gilles Beneplanc and Jean-Charles Rochet

Abstract

The Subprime Crisis has shown that the sophisticated risk management models used by banks and insurance companies had serious flaws. Some people even suggest that these models are completely useless. Others claim that the crisis was just an unpredictable accident that was largely amplified by the lack of expertise and even naivety of many investors. This book takes the middle view. It shows that these models have been designed for “tranquil times”, when financial markets behave smoothly and efficiently. However, we are living in more and more “turbulent times”: large risks materialize much mor ... More

Keywords: Subprime Crisis, risk management models, investors, financial models, financial markets

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780199774081
Published to Oxford Scholarship Online: April 2015 DOI:10.1093/acprof:osobl/9780199774081.001.0001

Authors

Affiliations are at time of print publication.

Gilles Beneplanc, author
Mercer LLC, Region leader, Europe, Middle East, and Africa, FR

Jean-Charles Rochet, author
University of Toulouse, Professor of Mathematics and Economics, FR