Financial and Monetary Policy Studies

Risk Management in Volatile Financial Markets

Editors: Bruni, Franco, Fair, D.E., O'Brien, Richard (Eds.)

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About this book

intense competition on banks and other financial institutions, as a period of oligopoly ends: more rather than less innovation is needed to help share undi­ versifiable risks, with more attention to correlations between different risks. Charles Goodhart of the London School of Economics (LSE), while ques­ tioning the idea that volatility has increased, concludes that structural changes have made regulation more problematic and calls for improved information availability on derivatives transactions. In a thirteen country case study of the bond market turbulence of 1994, Bo­ rio and McCauley of the BIS pin the primary causes of the market decline on the market's own dynamics rather than on variations in market participants' apprehensions about economic fundamentals. Colm Kearney of the Univer­ sity of Western Sydney, after a six country study of volatility in economic and financial variables, concludes that more international collaboration in man­ aging financial volatility (other than in foreign exchange markets) is needed in Europe. Finally, Stokman and Vlaar of the Dutch central bank investigate the empirical evidence for the interaction between volatility and international transactions in real and financial assets for the Netherlands, concluding that such influence depends on the chosen volatility measure. The authors sug­ gest that there are no strong arguments for international restrictions to reduce volatility. INSTITUTIONAL ISSUES AND PRACTICES The six papers in Part C focus on what market participants are doing to manage risk.

Table of contents (17 chapters)

  • Volatility is Here to Stay — Some Thoughts on Its Implications

    Lusser, Markus

    Pages 1-11

  • The Changing Structure of Financial Institutions and Markets: A Central Bank Perspective

    Crockett, Andrew D.

    Pages 12-22

  • Financial Innovations and The Incidence of Risk in the Financial System

    Hellwig, Martin F.

    Pages 24-39

  • Has Financial Risk Really Worsened?

    Goodhart, C. A. E.

    Pages 40-58

  • The Anatomy of the Bond Market Turbulence of 1994

    Borio, Claudio E. V. (et al.)

    Pages 60-84

Buy this book

eBook $229.00
price for USA (gross)
  • ISBN 978-1-4613-1271-0
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $299.00
price for USA
  • ISBN 978-0-7923-4053-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $299.00
price for USA
  • ISBN 978-1-4612-8542-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Risk Management in Volatile Financial Markets
Editors
  • Franco Bruni
  • D.E. Fair
  • Richard O'Brien
Series Title
Financial and Monetary Policy Studies
Series Volume
32
Copyright
1996
Publisher
Springer US
Copyright Holder
Springer Science+Business Media Dordrecht
eBook ISBN
978-1-4613-1271-0
DOI
10.1007/978-1-4613-1271-0
Hardcover ISBN
978-0-7923-4053-9
Softcover ISBN
978-1-4612-8542-7
Series ISSN
0921-8580
Edition Number
1
Number of Pages
XIII, 371
Topics