Risk Topography

Systemic Risk and Macro Modeling

Markus Brunnermeier, Arvind Krishnamurthy

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English

University of Chicago Press
14 August 2014

Macroeconomics; Economic forecasting

Series: (NBER) National Bureau of Economic Research Conference Reports

The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in which the financial sector plays a greater role.

Markus Brunnermeier and Arvind Krishnamurthy have assembled contributions from leading academic researchers, central bankers, and other financial-market experts to explore the possibilities for advancing macroeconomic modeling in order to achieve more accurate economic measurement. Essays in this volume focus on the development of models capable of highlighting the vulnerabilities that leave the economy susceptible to adverse feedback loops and liquidity spirals. While these types of vulnerabilities have often been identified, they have not been consistently measured. In a financial world of increasing complexity and uncertainty, this volume is an invaluable resource for policymakers working to improve current measurement systems and for academics concerned with conceptualizing effective measurement.

Edited by: Markus Brunnermeier, Arvind Krishnamurthy
Imprint: University of Chicago Press
Country of Publication: United States
Dimensions: Height: 24mm, Width: 18mm, Spine: 2mm
Weight: 539g
ISBN: 9780226077734
ISBN 10: 022607773X
Series: (NBER) National Bureau of Economic Research Conference Reports
Pages: 288
Publication Date: 14 August 2014
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Markus Brunnermeier is the Edwards S. Sanford Professor of Economics at Princeton University and a research associate of the NBER. Arvind Krishnamurthy is the Harold L. Stuart Professor of Finance in the Kellogg School of Management at Northwestern University and a research associate of the NBER.

Reviews for Risk Topography: Systemic Risk and Macro Modeling

The existing economic measurement system was not successful in detecting in the financial sector the vulnerability and the build-up of bubbles leading up to the crisis. In this respect, Risk Topography provides an invaluable contribution by examining ways of designing systems which provide better measurement of systemic risk factors. . . . [The] book provides a rich resource for policymakers as well as academic researchers. -- Journal of Pension Economics and Finance (12/29/2015 12:00:00 AM)