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Systemic Risk Centre
The Systemic Risk Centre (SRC) is a research centre in London, hosted at the London School of Economics and dedicated to the study of systemic risk and the development of policies for addressing the effects of financial crises. The SRC is funded by the Economic and Social Research Council (ESRC) and was founded in 2012. Its funding was renewed for another five years in 2018. The SRC finds that the underlying driver of financial crisis is endogenous risk, described in the SRC Magazine. Organization The SRC has two directors, Jon Danielsson and Jean-Pierre Zigrand, staff of eight researchers and faculty from the London School of Economics (LSE) and the University College London (UCL). Research The Centre's main research activities are divided into four different areas: # Endogenous Risk # Amplification Mechanisms # Policy Responses # Identifying Risk SRC Research is disseminated through events, workshops, seminars and published materials – in particular ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jon Danielsson
Jon Danielsson is an economist teaching at the London School of Economics and active in domestic and international policy debates. He received his PhD in the economics of financial markets from Duke University in 1991. Career Danielsson's research areas include systemic risk, artificial intelligence, cryptocurrencies, financial risk, hedge funds, financial regulations, market volatility, liquidity, models of extreme market movements, and microstructure of foreign exchange markets. He has written extensively on the post-crash situation in Iceland. In 2012, he became director of the Systemic Risk Centre (SRC) at the London School of Economics, which was set up to study the risks that may trigger another financial crisis and to develop tools to help policymakers and financial institutions become better prepared. The Centre is funded by ESRC with an annual budget of £1 million. Illusion of control Danielsson published a book with Yale University Press in 2022 titled ''Illus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London School Of Economics
The London School of Economics and Political Science (LSE) is a public university, public research university located in London, England and a constituent college of the federal University of London. Founded in 1895 by Fabian Society members Sidney Webb, 1st Baron Passfield, Sidney Webb, Beatrice Webb, Graham Wallas, and George Bernard Shaw, LSE joined the University of London in 1900 and established its first degree courses under the auspices of the university in 1901. LSE began awarding its degrees in its own name in 2008, prior to which it awarded degrees of the University of London. It became a university in its own right within the University of London in 2022. LSE is located in the London Borough of Camden and City of Westminster, Westminster, Central London, near the boundary between Covent Garden and Holborn. The area is historically known as Clare Market. LSE has more than 11,000 students, just under seventy percent of whom come from outside the UK, and 3,300 staff. It h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University College London
, mottoeng = Let all come who by merit deserve the most reward , established = , type = Public research university , endowment = £143 million (2020) , budget = £1.544 billion (2019/20) , chancellor = Anne, Princess Royal(as Chancellor of the University of London) , provost = Michael Spence , head_label = Chair of the council , head = Victor L. L. Chu , free_label = Visitor , free = Sir Geoffrey Vos , academic_staff = 9,100 (2020/21) , administrative_staff = 5,855 (2020/21) , students = () , undergrad = () , postgrad = () , coordinates = , campus = Urban , city = London, England , affiliations = , colours = Purple and blue celeste , nickname ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major settlement for two millennia. The City of London, its ancient core and financial centre, was founded by the Roman Empire, Romans as ''Londinium'' and retains its medieval boundaries.See also: Independent city#National capitals, Independent city § National capitals The City of Westminster, to the west of the City of London, has for centuries hosted the national Government of the United Kingdom, government and Parliament of the United Kingdom, parliament. Since the 19th century, the name "London" has also referred to the metropolis around this core, historically split between the Counties of England, counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire, which largely comprises Greater London ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systemic Risk
In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to the risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system.Banking and currency crises and systemic risk George G. Kaufman (World Bank), It can be defined as "financial ''system'' instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries". It refers to the risks imposed by ''interlinkage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Social Research Council
The Economic and Social Research Council (ESRC), formerly the Social Science Research Council (SSRC), is part of UK Research and Innovation (UKRI). UKRI is a non-departmental public body (NDPB) funded by the UK government. ESRC provides funding and support for research and training in the social sciences. It is the UK's largest organisation for funding research on economic and social issues. History The ESRC was founded in 1965 as the ''Social Science Research Council'' (SSRC - not to be confused with the Social Science Research Council in the United States). The establishment of a state funding body for the social sciences in the United Kingdom, had been under discussion since the Second World War; however, it was not until the 1964 election of Prime Minister Harold Wilson that the political climate for the creation of the SSRC became sufficiently favourable. The first chief executive of the SSRC was Michael Young (later Baron Young of Dartington). Subsequent holders of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Endogenous Risk
Endogenous risk is a type of Financial risk that is created by the interaction of market participants. It was proposed by Jon Danielsson and Hyun-Song Shin in 2002. Risk can be classified into the two categories of exogenous and endogenous risk. Under exogenous risk, shocks to the financial system arrived from outside the system, like an asteroid might hit the earth. Market participants react to the shock but do not influence it. By contrast, with endogenous risk, the interaction of market participants, each with their own abilities, biases, prejudices and resources, results in most market outcomes and all large outcomes. In particular, systemic risk is a form of endogenous risk. As a practical interpretation of endogenous risk when applied to risk measurements, it can be further subdivided into actual risk, the underlying latent risk and perceived risk, what is reported by common risk measurement techniques, such as Value at risk and Expected shortfall Expected shortfal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
