000 03802nam a22005055i 4500
001 978-1-4614-3079-7
003 DE-He213
005 20140220083246.0
007 cr nn 008mamaa
008 120329s2012 xxu| s |||| 0|eng d
020 _a9781461430797
_9978-1-4614-3079-7
024 7 _a10.1007/978-1-4614-3079-7
_2doi
050 4 _aHG1-9999
050 4 _aHG4501-6051
050 4 _aHG1501-HG3550
072 7 _aKFF
_2bicssc
072 7 _aKFFK
_2bicssc
072 7 _aBUS027000
_2bisacsh
072 7 _aBUS004000
_2bisacsh
082 0 4 _a657.8333
_223
082 0 4 _a658.152
_223
100 1 _aStein, Jerome L.
_eauthor.
245 1 0 _aStochastic Optimal Control and the U.S. Financial Debt Crisis
_h[electronic resource] /
_cby Jerome L. Stein.
264 1 _aBoston, MA :
_bSpringer US,
_c2012.
300 _aXVI, 157p. 31 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 _aIntroduction/preface -- Failure of the Fed, IMF, academic profession to anticipate the crisis, disregarded warnings -- Failure of the Quants, mathematical finance models -- Philosophy of Stochastic optimal control approach, relation to M-V analysis; Sensitivity of optimal debt and risk to alternative stochastic processes, Early Warning Signals -- Application of Stochastic Optimal Control to Financial crisis 2007-08 -- AIG in the crisis -- Crises in the 1980s: Agricultural, S&L -- Diversity of debt crises in Euro. .
520 _aStochastic Optimal Control (SOC)—a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynamic process under uncertainty—has proven incredibly helpful to understanding and predicting debt crises and evaluating proposed financial regulation and risk management. Stochastic Optimal Control and the U.S. Financial Debt Crisis analyzes SOC in relation to the 2008 U.S. financial crisis, and offers a detailed framework depicting why such a methodology is best suited for reducing financial risk and addressing key regulatory issues.  Topics discussed include the inadequacies of the current approaches underlying financial regulations, the use of SOC to explain debt crises and superiority over existing approaches to regulation, and the domestic and international applications of SOC to financial crises.  Principles in this book will appeal to economists, mathematicians, and researchers interested in the U.S. financial debt crisis and optimal risk management. Jerome L. Stein has been an emeritus professor of economics at Brown University since 1993, and has served as a visiting professor of applied mathematics since 1997. He is the author of nine research monographs, and has published over 100 journal articles in such leading publications as American Economic Review, Review of Economics and Statistics, Journal of Banking and Finance, and Contemporary Mathematics. He has served on the editorial boards of the Journal of Finance, American Economic Review, Journal of International and Comparative Economics, and the Journal of Banking and Finance.
650 0 _aEconomics.
650 0 _aDistribution (Probability theory).
650 0 _aEconomics
_xStatistics.
650 1 4 _aEconomics/Management Science.
650 2 4 _aFinance/Investment/Banking.
650 2 4 _aProbability Theory and Stochastic Processes.
650 2 4 _aStatistics for Business/Economics/Mathematical Finance/Insurance.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9781461430780
856 4 0 _uhttp://dx.doi.org/10.1007/978-1-4614-3079-7
912 _aZDB-2-SBE
999 _c101297
_d101297