The essay is an anatomy of the interface of disaster management and development, with the aim of drawing a framework for understanding how and why outright development strategies should mainstream disaster management as an elementary ingredient for sustainability. It accounts for why developing...

В статье рассмотрен актуальный вопрос, связанный с обеспечением экономической безопасности деятельности коммерческого банка. Автором выделены и сгруппированы...

Рассматривается сущность риска, выявляются недостатки организации управления рисками, особенности процесса формализации и эффективности управления рисками...

We present a new recursive algorithm to construct vine copulas based on an underlying tree structure. This new structure is interesting to compute multivariate distributions for dependent random variables. We proove the asymptotic normality of the vine copula parameter estimator and show that...

We construct models which enable a decision-maker to analyze the implications of typical time series patterns of daily exchange rates for currency risk management. Our approach is Bayesian where extensive use is made of Markov chain Monte Carlo methods. The effects of several model...

Structured finance is often mentioned as the main cause of the latest financial crisis. We argue that structured finance per se did not trigger the last financial crisis. The crisis was propagated around the world because of poor risk management such as agency problems in the securitization...

The concept known as FX settlement risk (aka Herstatt risk) came into focus some thirty years ago when Bankhaus Herstatt, a small German bank, became insolvent leaving its counterparties with credit exposure equivalent to the nominal value of receivables in US dollar from FX transactions, for...

The popular practice of selling market volatility through selling straddles exposes traders and investors to substantial risk, especially in equity markets. The returns can be very lucrative, but the probability of large negative returns far exceeds the probability of large positive returns. In...