Model Risk is Part of Operational Risk

Dimitris N. Chorafas

Chapter 13 in Modelling the Survival of Financial and Industrial Enterprises, 2002, pp 268-287 from Palgrave Macmillan

Abstract: Abstract One reason finance and economics have been littered with broken forecasts is that as market conditions change old models prove to be unreliable but they are still being used. With the New Economy, the obsolescence of the factors that are coming into modelling, and of their range of variation, has accelerated.

Keywords: Model Risk; Credit Risk; Operational Risk; Market Risk; Accounting Information (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50173-7_13

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DOI: 10.1057/9780230501737_13

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