Handbook of Financial Stress Testing

Edited by J. Doyne Farmer, Alissa M. Kleinnijenhuis, Til Schuermann & Thom Wetzer (2022)

 

Abstract

Stress tests are the most innovative regulatory tool to prevent and fight financial crises. Their use has fundamentally changed the modeling of financial systems, financial risk management in the public and private sector, and the policies designed to prevent and mitigate financial crises. When financial crises hit, stress tests take center stage. Despite their centrality to public policy, the optimal design and use of stress tests remains highly contested. Written by an international team of leading thinkers from academia, the public sector and the private sector, this handbook comprehensively surveys and evaluates the state of play and charts the innovations that will determine the path ahead. It is a comprehensive and interdisciplinary resource that bridges theory and practice and places financial stress testing in its wider context. This guide is essential reading for researchers, practitioners and policymakers working on financial risk management and financial regulation.

Endorsed by:

  • Viral Acharya
    C.V. Starr Professor of Economics in the Department of Finance at New York University Stern
    School of Business & Former Deputy Governor at the Reserve Bank of India

  • Ben Bernanke
    Nobel Laureate in Economic Sciences (2022), Distinguished Fellow at the Brookings
    Institution & Former Chairman of the Federal Reserve

  • Darrell Duffie
    Adams Distinguished Professor of Management and Professor of Finance at the Graduate
    School of Business, Stanford University

  • Wilson Ervin
    Former Vice-Chairman of Credit Suisse

  • Christine Lagarde
    President of the European Central Bank

Preface by Timothy Geithner
President and Managing Director of Warburg Pincus & Former U.S. Secretary of the Treasury

Elements in Climate Finance

Edited by Viral Acharya, Patrick Bolton, Bob Litterman, Alissa M. Kleinnijenhuis, Til Schuermann, Peter Tufano & Thom Wetzer (2023)

Cambridge University Press (Elements Series)

Hello, how are you?

Abstract

Climate change poses one of the most salient risks to society in general and financial markets in particular. Investors, financial institutions, and non-financial companies, as well as governments, play an important role in financing the transition to a carbon-neutral economy while simultaneously facing increasing losses from physical impacts and stranded assets. A critical step in managing that transition is the development and incorporation of climate risk analysis across the financial system and in the business community more broadly. The Elements of Climate Finance series published by Cambridge University Press (CUP) surveys the frontiers of climate finance and risk analysis, and in doing so aims to push those frontiers outward.

This series will provide authoritative, forward-looking, and decision-useful insights for practitioners and policymakers. The series will cover central debates in areas where consensus is still developing, as well as take a longer view, charting a course for future action and scholarship to increase the value of climate finance and risk analysis for decision-makers. Contributors to the series will be leading thinkers operating in the vanguard of the field, coming from the private sector, public policy, and regulatory institutions as well as academia, and representing a variety of perspectives – all offered in cogent, decision-useful, and concise contributions.

Stay tuned (subject to modifications).