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This paper presents a simple heuristic measure of tail risk, which is applied to individual bank stress tests and to public debt. Stress testing can be seen as a first order test of the level of potential negative outcomes in response to tail shocks. However, the results of stress testing can be misleading in the presence of model error and the uncertainty attending parameters and their estimation. The heuristic can be seen as a second order stress test to detect nonlinearities in the tails that can lead to fragility, i.e., provide additional information on the robustness of stress tests. It also shows how the measure can be used to assess the robustness of public debt forecasts, an important issue in many countries. The heuristic measure outlined here can be used in a variety of situations to ascertain an ordinal ranking of fragility to tail risks.
With industrial systems becoming ever more mechanized and reliant on advanced technology, the complexity of equipment, especially in risky industries, is increasing on a daily basis. A thorough understanding of operations and providing safety for these complex systems has become a firm requirement for many. This book offers the knowledge required by safety professionals to provide and maintain the safety of engineering complex systems. Through a scientific and engineering approach to designing, implementing, operating, and maintaining complex systems, Learning and Relearning Equipment Complexity: Achieving Safety in Engineering Complex Systems details the need for more engineering and scient...
This text introduces bad events (incidents and accidents) named as metaphors. The metaphors, called as "safety animals," are named as black swan, gray rhino, gray swans, and invisible gorilla. The book analyzes incidents and accidents from the context of the safety management system in the risky industries including aviation, nuclear, chemical, oil, and petroleum. It further uses mathematical analysis of these events (through statistics and probabilities) and presents preventive and corrective measures in dealing with the same. It comprehensively covers important topics including real-time monitoring, reverse stress testing, change management, predictive maintenance, management system, conti...
This book provides a hands-on, practical guide to understanding derivatives pricing. Aimed at the less quantitative practitioner, it provides a balanced account of options, Greeks and hedging techniques avoiding the complicated mathematics inherent to many texts, and with a focus on modelling, market practice and intuition.
A Powerful book of adventure and faith" - FRANK SCHAEFFER - New York Times best selling author of fiction and nonfiction. With unexpected turns and a full dose of scholarly intrigue along the way, The Madonna Files is a contemporary religious thriller that explores the hidden secrets of Catholic Church. Five years in the making, The Madonna Files is "The most prophetic book of our times" The Madonna Files has been compared to Da Vinci Code, the historical fiction by Malachi Martin, The Shack, even G.K. Chesterson's Father Brown mysteries. Stephen Ryan's explosive debut novel challenges the prevailing orthodoxies of American history and Christianity, and reveals the dynamic presence of the Virgin Mary throughout the ages. On the quiet campus of M.I.T., a math professor is asked by the Vatican to determine the probability that six children are telling the truth. The children, from a small town in Bosnia, a town filled with sacred drama, say they see the Virgin Mary.
Ribbon Edition August - September, '20 Published by POWER TALK WITH ARCHANNA www.powertalkwitharchanna.com Power Talk E-magazine is your destination to grab mind tingling read on business, technology, success and more. Join us as we take a peek into the success stories of business leaders navigating the corporate leadership ladder. Our experts seed from diverse industries across the globe. Catch them as they pen down their leanings, experiences and farsightedness for Power Talk with Archanna. Feel the power of words over an eloquent spread of niche topics meant to be consumed by the masses. We invite entrepreneurs, professionals, solo-preneur, C-suite executives, company owners, home makers to accompany us as we take this journey with our expert authors. Network with our authors as they distill and share their mind-space with us.
"The Bible of the Red Pill", The Rational MaleĀ® is a rational and pragmatic approach to intersexual dynamics, and the social and psychological underpinnings of intergender relations. The book is the compiled, ten-year core writing of author/blogger Rollo Tomassi from therationalmale.com. Rollo Tomassi is one of the leading voices in the globally growing, male-focused online consortium known as the "Manosphere". Outlined are the concepts of positive masculinity, the feminine imperative, plate theory, operative social conventions and the core psychological theory behind Game awareness and "red pill" ideology. Tomassi explains and outlines the principles of intergender social dynamics and foundational reasoning behind them.
This book by the Asia Competitiveness Institute introduces a new ease of doing business index that aims to allow for a better approximation of ease of doing business conditions in India's sub-national economies. The approach takes into account three major aspects of doing business, namely (a) Attractiveness to Investors, (b) Business Friendliness, and (c) Competitive Policies. The bottom-up approach considers the various operational issues that firms face at the ground level, with the emphasis being on de facto issues.The analysis provided in the book not only stands up to academic scrutiny as it is grounded in rigorous methodological foundations, but also remains accessible and appealing to policymakers with the co-authors recommending appropriate policy interventions to improve the ease of doing business of India's sub-national economies.
The authors teach readers about the new rules of investing, which include investing with inflation-protected bonds, reaching retirement goals, and investing safely for college.
Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic H...