Post-crisis financial risk management: Some suggestions

Riccardo Rebonato

Journal of Risk Management in Financial Institutions, 2010, vol. 3, issue 2, 148-155

Abstract: This paper argues the case that, when it comes to the management of financial risk, it is essential to provide interpretative models of reality (data do not ‘speak by themselves’); that these interpretative models are not unique; that too little attention has been devoted to explaining rather than describing; and that the existence of a number of competing views of the world can give rise to co-ordination among traders. The implications of this for the distribution of returns are highlighted. The limits of purely statistical descriptions of risk in terms of marginal or joint distributions of risk factors are also discussed.

Keywords: risk management; co-ordination; herding; bubbles; return distributions (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/283/download/ (application/pdf)
https://hstalks.com/article/283/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:rmfi00:y:2010:v:3:i:2:p:148-155

Access Statistics for this article

More articles in Journal of Risk Management in Financial Institutions from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().